Livforsakringsbolaget Skandia Omsesidigt Holds Position in General Electric Company (GE)
Livforsakringsbolaget Skandia Omsesidigt held its stake in General Electric Company (NYSE:GE) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 326,741 shares of the conglomerate’s stock at the close of the 2nd quarter. General Electric makes up approximately 0.8% of Livforsakringsbolaget Skandia Omsesidigt’s investment portfolio, making the stock its 24th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in General Electric were worth $8,826,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Peachtree Investment Advisors Inc. boosted its stake in General Electric by 4.6% in the 1st quarter. Peachtree Investment Advisors Inc. now owns 38,712 shares of the conglomerate’s stock worth $1,154,000 after purchasing an additional 1,700 shares during the period. Rathbone Brothers plc boosted its stake in General Electric by 0.5% in the 1st quarter. Rathbone Brothers plc now owns 1,326,585 shares of the conglomerate’s stock worth $39,532,000 after purchasing an additional 7,249 shares during the period. Pure Financial Advisors Inc. boosted its stake in General Electric by 15.2% in the 1st quarter. Pure Financial Advisors Inc. now owns 8,004 shares of the conglomerate’s stock worth $239,000 after purchasing an additional 1,055 shares during the period. Confluence Investment Management LLC boosted its stake in General Electric by 5.3% in the 1st quarter. Confluence Investment Management LLC now owns 1,911,730 shares of the conglomerate’s stock worth $56,970,000 after purchasing an additional 96,460 shares during the period. Finally, West Oak Capital LLC boosted its stake in General Electric by 0.9% in the 1st quarter. West Oak Capital LLC now owns 65,797 shares of the conglomerate’s stock worth $1,961,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 54.78% of the company’s stock.
General Electric Company (NYSE:GE) traded down 0.37% on Friday, hitting $23.93. 66,559,977 shares of the stock were exchanged. General Electric Company has a one year low of $23.58 and a one year high of $32.38. The company has a 50 day moving average of $24.82 and a 200 day moving average of $27.58. The stock has a market capitalization of $207.18 billion, a P/E ratio of 29.15 and a beta of 1.22.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 earnings per share. On average, equities research analysts forecast that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Tisch acquired 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is currently owned by insiders.
GE has been the subject of a number of recent analyst reports. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research note on Saturday, May 20th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. BidaskClub lowered shares of General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $29.42.
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