Condor Capital Management decreased its position in General Electric Co. (NYSE:GE) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,319 shares of the company’s stock after selling 1,537 shares during the period. Condor Capital Management’s holdings in General Electric were worth $860,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of General Electric by 0.5% in the second quarter. Fisher Asset Management LLC now owns 31,314,984 shares of the company’s stock worth $1,008,656,000 after buying an additional 161,641 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of General Electric by 3.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,336,995 shares of the company’s stock worth $860,569,000 after buying an additional 903,836 shares during the period. Swiss National Bank boosted its stake in shares of General Electric by 6.7% in the second quarter. Swiss National Bank now owns 26,154,361 shares of the company’s stock worth $823,339,000 after buying an additional 1,634,800 shares during the period. Jennison Associates LLC boosted its stake in shares of General Electric by 9.5% in the second quarter. Jennison Associates LLC now owns 18,226,299 shares of the company’s stock worth $573,764,000 after buying an additional 1,588,006 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of General Electric by 15.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,548,121 shares of the company’s stock worth $426,495,000 after buying an additional 1,857,761 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.28% during trading on Monday, hitting $29.00. 13,267,068 shares of the company traded hands. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The firm has a 50 day moving average price of $30.31 and a 200-day moving average price of $30.77. The stock has a market cap of $259.88 billion, a price-to-earnings ratio of 24.51 and a beta of 1.15.
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. Analysts predict that General Electric Co. will post $1.50 EPS 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. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.16%. General Electric’s dividend payout ratio (DPR) is 77.97%.
A number of equities research analysts recently weighed in on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research report 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 cut 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 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 equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. General Electric currently has an average rating of “Hold” and a consensus target price of $32.81.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, for a total transaction 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.
General Electric Company Profile
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