P.R. Herzig & Co. Inc. cut its position in General Electric Co. (NYSE:GE) by 5.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 73,017 shares of the company’s stock after selling 4,483 shares during the period. General Electric accounts for about 4.9% of P.R. Herzig & Co. Inc.’s holdings, making the stock its 2nd largest position. P.R. Herzig & Co. Inc.’s holdings in General Electric were worth $2,299,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Catamount Wealth Management raised its position 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 position 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. Barry Investment Advisors LLC raised its position 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. D. Scott Neal Inc. raised its position in 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. Finally, Windward Capital Management Co. CA raised its position in General Electric by 1.2% in the second quarter. Windward Capital Management Co. CA now owns 7,873 shares of the company’s stock worth $248,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.65% during midday trading on Friday, reaching $29.08. 37,840,132 shares of the company’s stock traded hands. The firm has a market capitalization of $260.59 billion, a PE ratio of 24.58 and a beta of 1.15. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The stock’s 50-day moving average price is $30.31 and its 200 day moving average price is $30.77.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 net margin of 9.14% and a return on equity of 15.04%. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS. On average, equities research analysts expect that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The firm 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 3.16%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
A number of research analysts have weighed in on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. 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 report on Tuesday, June 14th. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research report 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 investment 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. General Electric presently has an average rating of “Hold” and a consensus price target of $32.81.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by insiders.
About General Electric
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