Financial Management Professionals Inc. raised its stake in General Electric Co. (NYSE:GE) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 8,721 shares of the company’s stock after buying an additional 46 shares during the period. Financial Management Professionals Inc.’s holdings in General Electric were worth $274,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Patten & Patten Inc. TN boosted its position in shares of General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock worth $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. purchased a new position in shares of General Electric during the second quarter worth about $11,436,000. Howland Capital Management LLC boosted its position in shares of General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock worth $39,526,000 after buying an additional 89,178 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its position in shares of General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock worth $9,138,000 after buying an additional 3,405 shares in the last quarter. Finally, Cacti Asset Management LLC boosted its position in shares of General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock worth $3,070,000 after buying an additional 1,175 shares in the last quarter. Institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.07% during trading on Monday, hitting $29.64. 12,712,195 shares of the company traded hands. General Electric Co. has a 12-month low of $26.22 and a 12-month high of $33.00. The company has a market capitalization of $265.61 billion, a P/E ratio of 25.05 and a beta of 1.15. The stock has a 50 day moving average price of $30.58 and a 200 day moving average price of $30.81.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period last year, the business earned $0.31 EPS. The business’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
A number of research analysts recently issued reports on the stock. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Zacks Investment Research lowered shares of General Electric from a “buy” rating to a “hold” rating in a research note on Monday. Vetr lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target on the stock. in a research note on Tuesday, June 14th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of General Electric in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.65.
In related 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, for a total transaction of $1,572,500.00. Following the purchase, 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 SEC, which is accessible through this link. Company insiders own 0.23% of the company’s stock.
General Electric Company Profile
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