TIAA CREF Trust Co. FSB MO decreased its position in shares of General Electric Co. (NYSE:GE) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 1,127,279 shares of the company’s stock after selling 6,919 shares during the period. TIAA CREF Trust Co. FSB MO’s holdings in General Electric were worth $35,486,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of GE. Barry Investment Advisors LLC raised its stake 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 in the last quarter. Balasa Dinverno & Foltz LLC raised its stake in 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 in the last quarter. Check Capital Management Inc. CA raised its stake in 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 in the last quarter. D. Scott Neal Inc. raised its stake 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 in the last quarter. Finally, Windward Capital Management Co. CA raised its stake 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 in the last quarter. Institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.65% during mid-day trading on Friday, reaching $29.08. The company’s stock had a trading volume of 37,840,132 shares. The company has a market cap of $260.59 billion, a price-to-earnings ratio of 24.58 and a beta of 1.15. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00. The stock’s 50 day moving average is $30.31 and its 200 day moving average is $30.77.
General Electric (NYSE:GE) last released its earnings results 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 firm had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter in the prior year, the firm posted $0.31 earnings per share. The company’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts predict that General Electric Co. will post $1.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.16%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
A number of research firms have recently issued reports on GE. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Vetr lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 price target for the company. in a research note on Tuesday, June 14th. Morgan Stanley restated an “equal weight” rating and issued a $32.00 price target on shares of General Electric in a research note on Monday, July 25th. JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a research note on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $32.81.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.
About General Electric
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