Commonwealth Equity Services Inc increased its position in shares of General Electric Co. (NYSE:GE) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,668,834 shares of the company’s stock after buying an additional 41,180 shares during the period. General Electric comprises about 1.2% of Commonwealth Equity Services Inc’s portfolio, making the stock its 7th largest position. Commonwealth Equity Services Inc owned approximately 0.05% of General Electric worth $146,975,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Robshaw & Julian Associates Inc. boosted its position in General Electric by 4.6% in the second quarter. Robshaw & Julian Associates Inc. now owns 149,297 shares of the company’s stock worth $4,700,000 after buying an additional 6,600 shares in the last quarter. Plancorp LLC boosted its position in General Electric by 203.3% in the second quarter. Plancorp LLC now owns 82,847 shares of the company’s stock worth $2,608,000 after buying an additional 55,532 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in 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 in the last quarter. Blackhill Capital Inc. boosted its position in General Electric by 1.7% in the second quarter. Blackhill Capital Inc. now owns 354,542 shares of the company’s stock worth $11,161,000 after buying an additional 6,000 shares in the last quarter. Finally, Noesis Capital Mangement Corp boosted its position in General Electric by 4.5% in the second quarter. Noesis Capital Mangement Corp now owns 43,271 shares of the company’s stock worth $1,362,000 after buying an additional 1,845 shares in the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Co. (NYSE:GE) traded up 0.2339% on Tuesday, reaching $28.9275. The company had a trading volume of 10,190,250 shares. The company has a market capitalization of $259.23 billion, a P/E ratio of 24.4527 and a beta of 1.15. General Electric Co. has a 52 week low of $27.10 and a 52 week high of $33.00. The company has a 50 day moving average of $30.25 and a 200-day moving average of $30.75.
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, topping the consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. Analysts predict that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The firm 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 dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.19%. General Electric’s dividend payout ratio (DPR) is 77.97%.
A number of research analysts recently commented on GE shares. Goldman Sachs Group Inc. set a $28.00 price target on General Electric and gave the stock a “neutral” rating in a report on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Friday, September 23rd. Morgan Stanley set a $32.00 price objective on General Electric and gave the stock a “hold” rating in a research note on Wednesday, August 31st. Zacks Investment Research downgraded General Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 21st. Finally, Stifel Nicolaus set a $34.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.78.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The stock was acquired at an average cost 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 legal filing with the SEC, 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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