First Financial Corp IN Sells 481 Shares of General Electric Company (GE)
First Financial Corp IN reduced its holdings in shares of General Electric Company (NYSE:GE) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,964 shares of the conglomerate’s stock after selling 481 shares during the quarter. General Electric comprises 1.2% of First Financial Corp IN’s investment portfolio, making the stock its 13th biggest position. First Financial Corp IN’s holdings in General Electric were worth $1,943,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Harris Associates L P lifted its stake in shares of General Electric by 26.4% during the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of General Electric by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after buying an additional 776,656 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of General Electric by 11.0% during the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after buying an additional 1,005,937 shares in the last quarter. State of Wisconsin Investment Board lifted its stake in shares of General Electric by 14.5% during the 1st quarter. State of Wisconsin Investment Board now owns 8,450,202 shares of the conglomerate’s stock valued at $251,816,000 after buying an additional 1,067,235 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of General Electric by 9.3% during the 2nd quarter. National Pension Service now owns 6,385,937 shares of the conglomerate’s stock valued at $172,548,000 after buying an additional 542,249 shares in the last quarter. Institutional investors own 54.71% of the company’s stock.
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General Electric Company (NYSE GE) traded down 0.61% during trading on Friday, hitting $24.39. 40,729,835 shares of the company traded hands. The stock has a market capitalization of $211.17 billion, a PE ratio of 29.71 and a beta of 1.19. The company’s 50 day moving average is $24.44 and its 200-day moving average is $27.00. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The company 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%. General Electric’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts predict that General Electric Company will post $1.55 earnings per share for the current year.
The firm also recently declared 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 yield of 3.94%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is 118.52%.
In other General Electric news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Leonard Flannery purchased 103,983 shares of the firm’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 purchase, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by insiders.
GE has been the topic of a number of recent research reports. UBS AG restated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target on the stock. in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the company a “neutral” rating in a research note 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 research note 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 research note on Thursday, September 7th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.39.
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