Stonehearth Capital Management LLC reduced its stake in General Electric Co. (NYSE:GE) by 10.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,109 shares of the company’s stock after selling 12,316 shares during the period. General Electric comprises 2.6% of Stonehearth Capital Management LLC’s portfolio, making the stock its 12th largest position. Stonehearth Capital Management LLC’s holdings in General Electric were worth $3,246,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of GE. Acadian Asset Management LLC increased its position in shares of General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock worth $153,380,000 after buying an additional 3,626,125 shares during the last quarter. Nordea Investment Management AB increased its position in shares of General Electric by 41.4% in the second quarter. Nordea Investment Management AB now owns 2,490,749 shares of the company’s stock worth $78,409,000 after buying an additional 729,800 shares during the last quarter. First Quadrant L P CA increased its position in shares of General Electric by 27.2% in the second quarter. First Quadrant L P CA now owns 2,344,064 shares of the company’s stock worth $73,791,000 after buying an additional 501,098 shares during the last quarter. Baxter Bros Inc. purchased a new position in shares of General Electric during the second quarter worth approximately $11,436,000. Finally, Merriman Wealth Management LLC purchased a new position in shares of General Electric during the second quarter worth approximately $5,939,000. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.30% during mid-day trading on Friday, hitting $29.62. 36,120,040 shares of the stock traded hands. The firm has a market cap of $265.43 billion, a PE ratio of 25.04 and a beta of 1.11. The stock has a 50 day moving average price of $30.58 and a 200 day moving average price of $30.81. General Electric Co. has a 12-month low of $26.22 and a 12-month high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings results 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. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business earned $33.49 million during the quarter, compared to analyst estimates of $31.76 billion. During the same period in the previous year, the business posted $0.31 EPS. The company’s quarterly revenue was up 14.6% on a year-over-year basis. On average, analysts expect that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.11%. General Electric’s dividend payout ratio is presently 77.97%.
GE has been the subject of a number of research reports. Cowen and Company initiated coverage on shares of General Electric in a research report on Tuesday, June 7th. They issued a “market perform” rating and a $29.00 price target for the company. Bank of America Corp. reissued a “buy” rating on shares of General Electric in a research report on Monday, June 6th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $31.34 price target for the company. in a research report on Tuesday, June 7th. Royal Bank Of Canada reissued an “outperform” rating on shares of General Electric in a research report on Monday, June 20th. Finally, Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average target price of $32.65.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.
General Electric Company Profile
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