Davidson & Garrard Inc. lowered its position in shares of General Electric Co. (NYSE:GE) by 1.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 325,907 shares of the company’s stock after selling 3,776 shares during the period. General Electric accounts for about 2.5% of Davidson & Garrard Inc.’s portfolio, making the stock its 3rd largest position. Davidson & Garrard Inc.’s holdings in General Electric were worth $10,260,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. raised its position in General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock valued at $5,280,000 after buying an additional 2,700 shares during the period. Catamount Wealth Management raised 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 during the period. Nexus Investment Management Inc. raised its position in General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock valued at $21,762,000 after buying an additional 2,600 shares during the period. Kistler Tiffany Companies LLC raised its position in General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock valued at $3,522,000 after buying an additional 672 shares during the period. Finally, First PREMIER Bank raised its position in General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock valued at $2,332,000 after buying an additional 1,990 shares during the period. 55.81% of the stock is owned by hedge funds and other institutional investors.
General Electric Co. (NYSE:GE) traded up 0.42% on Friday, reaching $28.89. 28,181,380 shares of the company traded hands. The company has a market capitalization of $258.89 billion, a PE ratio of 24.42 and a beta of 1.15. The stock has a 50-day moving average of $29.97 and a 200 day moving average of $30.69. General Electric Co. has a 52-week low of $27.10 and a 52-week high of $33.00.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts forecast that General Electric Co. will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio is presently 77.97%.
Several equities analysts have weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and set a $34.00 target price on shares of General Electric in a report on Wednesday. Stifel Nicolaus set a $31.00 target price on General Electric and gave the company a “buy” rating in a report on Wednesday. RBC Capital Markets set a $36.00 target price on General Electric and gave the company a “buy” rating in a report on Tuesday. Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $32.35 target price on the stock in a report on Monday, October 10th. Finally, Citigroup Inc. cut their target price on General Electric from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Monday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.79.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the stock in a transaction dated 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 completion of the acquisition, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.
General Electric Company Profile
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