General Electric Company (GE) Shares Sold by Riverbridge Partners LLC
Riverbridge Partners LLC decreased its stake in General Electric Company (NYSE:GE) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,755 shares of the conglomerate’s stock after selling 1,386 shares during the period. Riverbridge Partners LLC’s holdings in General Electric were worth $2,316,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Northwest Wealth Management LLC boosted its holdings in shares of General Electric by 0.8% in the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares in the last quarter. Osborne Partners Capital Management LLC boosted its holdings in shares of General Electric by 0.5% in the 2nd quarter. Osborne Partners Capital Management LLC now owns 507,366 shares of the conglomerate’s stock valued at $13,704,000 after buying an additional 2,341 shares in the last quarter. Accurate Investment Solutions Inc. boosted its holdings in shares of General Electric by 4.6% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 121,007 shares of the conglomerate’s stock valued at $3,268,000 after buying an additional 5,297 shares in the last quarter. Gilbert & Cook Inc. acquired a new position in shares of General Electric in the 2nd quarter valued at $385,000. Finally, Benson Investment Management Company Inc. boosted its holdings in shares of General Electric by 6.3% in the 2nd quarter. Benson Investment Management Company Inc. now owns 86,037 shares of the conglomerate’s stock valued at $2,324,000 after buying an additional 5,100 shares in the last quarter. Institutional investors and hedge funds own 54.71% of the company’s stock.
Several brokerages have recently issued reports on GE. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 target price for the company. in a report on Monday, June 19th. BidaskClub upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, June 17th. Bank of America Corporation restated a “neutral” rating and issued a $31.00 target price on shares of General Electric in a report on Tuesday, June 13th. Cowen and Company restated a “market perform” rating and issued a $30.00 target price on shares of General Electric in a report on Tuesday, June 13th. Finally, CIBC restated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.98.
Shares of General Electric Company (NYSE:GE) traded down 1.51% during trading on Tuesday, hitting $24.09. 19,836,005 shares of the stock were exchanged. The stock has a market cap of $208.57 billion, a P/E ratio of 29.34 and a beta of 1.22. The stock has a 50-day moving average of $24.78 and a 200 day moving average of $27.50. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38. General Electric also was the target of some unusual options trading activity on Monday. Stock investors acquired 40,129 call options on the company. This represents an increase of 145% compared to the average volume of 16,397 call options.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the business earned $0.51 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. Equities analysts predict that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is currently 118.52%.
In related news, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the purchase, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander Dimitrief acquired 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 233,253 shares of company stock worth $5,860,264. Company insiders own 0.36% of the company’s stock.
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