General Electric Company (GE) Position Boosted by Clarkston Capital Partners LLC
Clarkston Capital Partners LLC increased its position in General Electric Company (NYSE:GE) by 8.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,577,752 shares of the conglomerate’s stock after acquiring an additional 122,225 shares during the period. General Electric comprises approximately 1.9% of Clarkston Capital Partners LLC’s holdings, making the stock its 20th largest position. Clarkston Capital Partners LLC’s holdings in General Electric were worth $42,615,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new stake in General Electric during the 1st quarter valued at $106,000. Feltz Wealth PLAN Inc. bought a new stake in shares of General Electric in the 1st quarter worth $114,000. PHH Investments Ltd. increased its holdings in shares of General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of General Electric in the 1st quarter worth $214,000. Finally, Oakmont Partners LLC increased its holdings in shares of General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares in the last quarter. Institutional investors own 54.71% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “General Electric Company (GE) Position Boosted by Clarkston Capital Partners LLC” was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/02/general-electric-company-ge-position-boosted-by-clarkston-capital-partners-llc.html.
GE has been the subject of several recent analyst reports. Morgan Stanley restated a “weight” rating and issued a $25.00 price target (down previously from $26.00) on shares of General Electric in a research note on Monday. Vetr raised General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price objective on the stock in a research report on Monday. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. CIBC reiterated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.57.
In other General Electric news, insider Alexander Dimitrief bought 1,845 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the sale, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The disclosure for this sale can be found here. Insiders acquired 233,253 shares of company stock valued at $5,860,264 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
Shares of General Electric Company (NYSE:GE) traded up 1.45% during mid-day trading on Monday, hitting $24.53. 18,995,336 shares of the stock were exchanged. The company has a market cap of $212.38 billion, a P/E ratio of 29.88 and a beta of 1.19. The stock’s 50-day moving average price is $24.74 and its 200-day moving average price is $27.46. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 earnings per share. Equities research analysts anticipate that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.97%. General Electric’s payout ratio is 118.52%.
General Electric Company Profile
Receive News & Stock Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related stocks with our FREE daily email newsletter.