General Electric Company (GE) is Webster Bank N. A.’s 5th Largest Position
Webster Bank N. A. reduced its stake in General Electric Company (NYSE:GE) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 701,280 shares of the conglomerate’s stock after selling 6,528 shares during the period. General Electric accounts for 2.8% of Webster Bank N. A.’s holdings, making the stock its 5th biggest holding. Webster Bank N. A.’s holdings in General Electric were worth $18,941,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ullmann Financial Group Inc. bought a new position in shares of General Electric during the 1st quarter worth about $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric in the 1st quarter valued at about $114,000. PHH Investments Ltd. grew its stake 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 valued at $116,000 after buying an additional 2,000 shares during the period. Parametrica Management Ltd acquired a new stake in shares of General Electric in the 1st quarter valued at about $214,000. Finally, Barber Financial Group Inc. increased its position in General Electric by 3.1% in the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after buying an additional 220 shares in the last quarter. 54.71% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on GE. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Credit Suisse Group reiterated an “outperform” rating and issued a $33.00 target price on shares of General Electric in a report on Saturday, July 22nd. Finally, J P Morgan Chase & Co reiterated an “underweight” rating and issued a $22.00 target price on shares of General Electric in a report on Thursday, September 7th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $28.57.
Shares of General Electric Company (GE) traded up 0.28% during midday trading on Tuesday, hitting $24.64. 16,571,889 shares of the stock traded hands. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38. The company’s 50-day moving average is $24.50 and its 200 day moving average is $27.12. The firm has a market capitalization of $213.33 billion, a PE ratio of 30.01 and a beta of 1.19.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Analysts anticipate that General Electric Company will post $1.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a $0.24 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%. General Electric’s dividend payout ratio is presently 118.52%.
In other news, insider Alexander Dimitrief purchased 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 purchase, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Insiders bought 233,253 shares of company stock valued at $5,860,264 over the last quarter. Company insiders own 0.36% of the company’s stock.
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