Sawgrass Asset Management LLC lowered its stake in General Electric Co. (NYSE:GE) by 2.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 81,075 shares of the company’s stock after selling 1,646 shares during the period. Sawgrass Asset Management LLC’s holdings in General Electric were worth $2,552,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Catamount Wealth Management increased its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the period. James Investment Research Inc. increased its stake in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock worth $188,000 after buying an additional 1,000 shares during the period. Barry Investment Advisors LLC increased its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Finally, Northwest Investment Counselors LLC increased its stake in shares of General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock worth $216,000 after buying an additional 182 shares during the period. 55.81% of the stock is owned by hedge funds and other institutional investors.
General Electric Co. (NYSE:GE) traded down 0.753% during midday trading on Thursday, reaching $29.675. The company had a trading volume of 27,648,144 shares. The company has a market capitalization of $265.92 billion, a P/E ratio of 25.085 and a beta of 1.11. The company’s 50 day moving average is $30.68 and its 200-day moving average is $30.83. General Electric Co. has a 52-week low of $24.79 and a 52-week high of $33.00.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the company posted $0.31 earnings per share. General Electric’s revenue was up 14.6% on a year-over-year basis. Equities analysts expect that General Electric Co. will post $1.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.08%. General Electric’s dividend payout ratio is currently 77.97%.
A number of brokerages have issued reports on GE. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target for the company. in a report on Tuesday, June 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $32.00 price target on shares of General Electric in a report on Monday, July 25th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a report on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $32.75.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.
General Electric Company Profile
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