Cambridge Investment Research Advisors Inc. boosted its position in shares of General Electric Co. (NYSE:GE) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,411,171 shares of the company’s stock after buying an additional 62,601 shares during the period. General Electric makes up about 0.9% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its 14th largest position. Cambridge Investment Research Advisors Inc.’s holdings in General Electric were worth $44,424,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. Catamount Wealth Management raised 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. raised 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 raised 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 raised 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 raised 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.
General Electric Co. (NYSE:GE) traded up 0.07% during trading on Monday, hitting $29.64. The company had a trading volume of 12,712,195 shares. General Electric Co. has a 12 month low of $26.22 and a 12 month high of $33.00. The company’s 50 day moving average price is $30.58 and its 200-day moving average price is $30.81. The company has a market cap of $265.61 billion, a PE ratio of 25.05 and a beta of 1.15.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the prior year, the company earned $0.31 EPS. The firm’s revenue was up 14.6% on a year-over-year basis. Equities analysts expect that General Electric Co. will post $1.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.11%. General Electric’s dividend payout ratio (DPR) is 77.97%.
Several research analysts recently weighed in on the company. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $31.67 price objective for the company in a research report on Thursday, July 21st. TheStreet upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Friday, July 22nd. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Finally, Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $32.65.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the transaction, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
About General Electric
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