Plancorp LLC increased its position in shares of General Electric Co. (NYSE:GE) by 203.3% during the second quarter, Holdings Channel reports. The fund owned 82,847 shares of the company’s stock after buying an additional 55,532 shares during the period. General Electric accounts for about 2.3% of Plancorp LLC’s portfolio, making the stock its 15th largest position. Plancorp LLC’s holdings in General Electric were worth $2,608,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Catamount Wealth Management boosted 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 valued at $110,000 after buying an additional 901 shares in the last quarter. James Investment Research Inc. boosted 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 valued at $184,000 after buying an additional 150 shares in the last quarter. Cranbrook Wealth Management LLC boosted its position in General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock valued at $188,000 after buying an additional 1,000 shares in the last quarter. Barry Investment Advisors LLC boosted 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 valued at $216,000 after buying an additional 50 shares in the last quarter. Finally, Northwest Investment Counselors LLC boosted its position in General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock valued at $216,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.28% during midday trading on Monday, reaching $29.00. The company’s stock had a trading volume of 13,267,068 shares. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The firm has a market cap of $259.88 billion, a price-to-earnings ratio of 24.51 and a beta of 1.15. 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 announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’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 EPS. Analysts predict that General Electric Co. will post $1.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
GE has been the subject of several recent analyst reports. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $31.34 price target for the company in a research note on Monday, June 13th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. set a $29.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Monday, June 27th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a report on Monday, June 27th. 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 company. The company currently has an average rating of “Hold” and an average price target of $32.81.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the transaction, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.
General Electric Company Profile
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