Allen Investment Management LLC raised its position in shares of General Electric Company (NYSE:GE) by 28.8% during the first quarter, Holdings Channel reports. The institutional investor owned 16,234 shares of the conglomerate’s stock after buying an additional 3,634 shares during the period. Allen Investment Management LLC’s holdings in General Electric were worth $484,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of GE. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the first quarter worth approximately $114,000. Heritage Way Advisors LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $205,000. Cheviot Value Management LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $208,000. Cable Hill Partners LLC increased its position in shares of General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after buying an additional 780 shares during the period. Finally, Parametrica Management Ltd purchased a new position in shares of General Electric during the first quarter worth approximately $214,000. Institutional investors and hedge funds own 54.29% of the company’s stock.
General Electric Company (NYSE:GE) traded down 0.7382% during trading on Thursday, hitting $25.5202. The company had a trading volume of 5,273,190 shares. General Electric Company has a one year low of $25.26 and a one year high of $32.38. The stock has a market capitalization of $220.95 billion, a PE ratio of 31.0843 and a beta of 1.21. The stock has a 50-day moving average of $26.42 and a 200-day moving average of $28.58.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. On average, equities analysts anticipate that General Electric Company will post $1.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.73%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
A number of research analysts have commented on the company. Cowen and Company restated a “hold” rating and issued a $24.00 target price on shares of General Electric in a research note on Monday. UBS AG restated a “buy” rating and issued a $31.00 target price (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus lowered their target price on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $31.00 target price (down previously from $34.00) on shares of General Electric in a research note on Monday, July 24th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $26.00 target price (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.08.
In related news, Director William G. Beattie acquired 16,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was purchased at an average cost of $28.05 per share, for a total transaction of $448,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief acquired 1,845 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. Insiders have acquired 253,253 shares of company stock valued at $6,770,864 over the last 90 days. Company insiders own 0.36% of the company’s stock.
General Electric Company Profile
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