CapWealth Advisors LLC raised its position in General Electric Co. (NYSE:GE) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 416,429 shares of the company’s stock after buying an additional 61,397 shares during the period. General Electric comprises 3.2% of CapWealth Advisors LLC’s portfolio, making the stock its 5th largest position. CapWealth Advisors LLC’s holdings in General Electric were worth $13,109,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. Catamount Wealth Management increased its stake in 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 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 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 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 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 institutional investors and hedge funds.
Shares of General Electric Co. (NYSE:GE) traded down 0.753% on Thursday, reaching $29.675. 27,648,144 shares of the company traded hands. General Electric Co. has a one year low of $24.79 and a one year high of $33.00. The firm has a 50-day moving average price of $30.68 and a 200 day moving average price of $30.83. The company has a market capitalization of $265.92 billion, a PE ratio of 25.085 and a beta of 1.11.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. Equities analysts forecast that General Electric Co. will post $1.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
A number of research firms recently weighed in on GE. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 price target for the company in a research note on Thursday, July 21st. TheStreet raised shares of General Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Finally, Zacks Investment Research raised shares of General Electric from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.75.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were acquired at an average cost 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 in the company, valued at $69,148,737.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.
About General Electric
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