Dana Investment Advisors Inc. reduced its stake in General Electric Co. (NYSE:GE) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 765,547 shares of the company’s stock after selling 40,336 shares during the period. Dana Investment Advisors Inc.’s holdings in General Electric were worth $24,099,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Reilly Herbert Faulkner III purchased a new position in shares of General Electric during the second quarter worth approximately $322,000. 10 15 Associates Inc. increased its position in shares of General Electric by 9.6% in the second quarter. 10 15 Associates Inc. now owns 342,442 shares of the company’s stock worth $10,780,000 after buying an additional 29,871 shares during the last quarter. TD Capital Management LLC increased its position in shares of General Electric by 3.0% in the second quarter. TD Capital Management LLC now owns 8,928 shares of the company’s stock worth $281,000 after buying an additional 263 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of General Electric by 4.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 1,411,171 shares of the company’s stock worth $44,424,000 after buying an additional 62,601 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its position in shares of General Electric by 0.5% in the second quarter. Financial Management Professionals Inc. now owns 8,721 shares of the company’s stock worth $274,000 after buying an additional 46 shares during the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.31% during mid-day trading on Wednesday, hitting $29.41. 14,026,539 shares of the stock traded hands. The firm has a market cap of $263.55 billion, a PE ratio of 24.86 and a beta of 1.15. The stock has a 50 day moving average price of $30.49 and a 200 day moving average price of $30.80. General Electric Co. has a 12-month low of $27.10 and a 12-month high of $33.00.
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 Thomson Reuters’ consensus estimate of $0.46 by $0.05. The firm had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. 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 3.12%. General Electric’s dividend payout ratio is presently 77.97%.
A number of equities analysts recently commented on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price for the company. in a research note on Tuesday, June 14th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research note on Wednesday, June 29th. Finally, William Blair set a $38.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target 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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