Sigma Planning Corp raised its position in General Electric Co. (NYSE:GE) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 212,112 shares of the company’s stock after buying an additional 9,814 shares during the period. General Electric makes up approximately 0.9% of Sigma Planning Corp’s investment portfolio, making the stock its 16th largest position. Sigma Planning Corp’s holdings in General Electric were worth $6,677,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the company. Catamount Wealth Management boosted its position in shares of 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. boosted its position in shares of 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. Northwest Investment Counselors LLC boosted its position in shares of General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock worth $216,000 after buying an additional 182 shares during the period. Barry Investment Advisors LLC boosted its position in shares of 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. Finally, D. Scott Neal Inc. boosted its position in shares of 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. Institutional investors and hedge funds own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.07% on Wednesday, hitting $28.90. The company’s stock had a trading volume of 22,754,503 shares. General Electric Co. has a 1-year low of $27.10 and a 1-year high of $33.00. The firm has a market cap of $258.98 billion, a PE ratio of 24.43 and a beta of 1.15. The company has a 50 day moving average of $30.18 and a 200 day moving average of $30.73.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ 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 company earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Equities analysts forecast 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. Stockholders of record on Monday, September 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
A number of brokerages recently commented on GE. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price for the company. in a report on Tuesday, June 14th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research note on Wednesday, June 29th. Finally, Stifel Nicolaus set a $31.00 price objective on General Electric and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric has a consensus rating of “Buy” and an average target price of $32.79.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, 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 legal filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by insiders.
About General Electric
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Co. (NYSE:GE).
Receive News & Ratings for General Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.