Brown Capital Management LLC boosted its stake in shares of General Electric Co. (NYSE:GE) by 35.5% during the second quarter, Holdings Channel reports. The institutional investor owned 58,271 shares of the company’s stock after buying an additional 15,280 shares during the period. Brown Capital Management LLC’s holdings in General Electric were worth $1,834,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Barry Investment Advisors LLC boosted its position 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. Balasa Dinverno & Foltz LLC boosted its position in shares of General Electric by 0.3% in the second quarter. Balasa Dinverno & Foltz LLC now owns 29,568 shares of the company’s stock worth $931,000 after buying an additional 79 shares during the period. Check Capital Management Inc. CA boosted its position in shares of General Electric by 0.8% in the second quarter. Check Capital Management Inc. CA now owns 10,079 shares of the company’s stock worth $317,000 after buying an additional 81 shares during the period. Proficio Capital Partners LLC boosted its position in shares of General Electric by 0.3% in the second quarter. Proficio Capital Partners LLC now owns 28,061 shares of the company’s stock worth $877,000 after buying an additional 84 shares during the period. Finally, D. Scott Neal Inc. boosted its position in shares of General Electric by 1.3% in the second quarter. D. Scott Neal Inc. now owns 7,441 shares of the company’s stock worth $234,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.051% during mid-day trading on Monday, reaching $29.635. The company’s stock had a trading volume of 12,712,295 shares. General Electric Co. has a one year low of $26.22 and a one year high of $33.00. The stock’s 50 day moving average is $30.58 and its 200 day moving average is $30.81. The firm has a market cap of $265.57 billion, a PE ratio of 25.051 and a beta of 1.15.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. On average, analysts anticipate that General Electric Co. will post $1.50 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is currently 77.97%.
A number of equities analysts have recently commented on GE shares. JPMorgan Chase & Co. set a $28.00 target price on General Electric and gave the stock a “sell” rating in a report on Friday, September 23rd. Morgan Stanley set a $32.00 price target on General Electric and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Zacks Investment Research lowered General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Goldman Sachs Group Inc. set a $28.00 price target on General Electric and gave the stock a “neutral” rating in a research note on Friday. Finally, Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target for the company in a research note on Monday, September 19th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.65.
In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction dated 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 completion of the purchase, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.
General Electric Company Profile
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