Inverness Counsel LLC NY decreased its stake in General Electric Co. (NYSE:GE) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,275,080 shares of the company’s stock after selling 3,181 shares during the period. General Electric comprises 3.1% of Inverness Counsel LLC NY’s portfolio, making the stock its 4th largest position. Inverness Counsel LLC NY’s holdings in General Electric were worth $40,140,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Catamount Wealth Management boosted its stake in shares of 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 last quarter. James Investment Research Inc. boosted its stake in shares of 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 last quarter. Cranbrook Wealth Management LLC boosted its stake in shares of 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 last quarter. Northwest Investment Counselors LLC boosted its stake in shares of 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 last quarter. Finally, Barry Investment Advisors LLC boosted its stake 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 last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Co. (NYSE:GE) traded down 0.321% during mid-day trading on Tuesday, reaching $29.545. 15,947,444 shares of the company’s stock were exchanged. General Electric Co. has a 52-week low of $26.96 and a 52-week high of $33.00. The firm has a market cap of $264.76 billion, a P/E ratio of 24.975 and a beta of 1.15. The company has a 50 day moving average price of $30.54 and a 200 day moving average price of $30.81.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analyst estimates 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 for the quarter was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Analysts forecast that General Electric Co. will post $1.50 earnings per share for the current fiscal 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 given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is 77.97%.
A number of brokerages have recently issued reports on GE. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price on the stock. in a report on Tuesday, June 14th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Finally, William Blair set a $38.00 target price on shares of General Electric and gave the company a “buy” rating in a report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently 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 stock in a transaction on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.
General Electric Company Profile
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