Northstar Asset Management LLC lessened its position in shares of General Electric Company (NYSE:GE) by 33.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,101 shares of the conglomerate’s stock after selling 25,915 shares during the quarter. Northstar Asset Management LLC’s holdings in General Electric were worth $1,407,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. BerganKDV Wealth Management LLC increased its position in shares of General Electric by 0.3% during the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after acquiring an additional 36 shares during the period. Insight 2811 Inc. increased its position in shares of General Electric by 0.3% during the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after acquiring an additional 118 shares during the period. Blue Fin Capital Inc. increased its position in shares of General Electric by 0.3% during the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after acquiring an additional 158 shares during the period. Smith Shellnut Wilson LLC ADV increased its position in shares of General Electric by 0.7% during the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after acquiring an additional 160 shares during the period. Finally, Huntington Steele LLC increased its position in shares of General Electric by 1.0% during the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after acquiring an additional 165 shares during the period. 54.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Company (GE) traded up 0.08% during mid-day trading on Tuesday, reaching $23.74. 19,704,852 shares of the company were exchanged. The company’s 50 day moving average price is $25.02 and its 200 day moving average price is $27.74. The firm has a market capitalization of $205.54 billion, a PE ratio of 28.92 and a beta of 1.22. General Electric Company has a 12 month low of $23.58 and a 12 month high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. Equities analysts anticipate that General Electric Company will post $1.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.05%. General Electric’s dividend payout ratio is currently 118.52%.
A number of research firms have recently weighed in on GE. Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of General Electric in a research report on Monday, August 7th. Deutsche Bank AG reaffirmed a “sell” rating and set a $21.00 price objective (down previously from $24.00) on shares of General Electric in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price for the company in a research note on Wednesday, June 7th. Finally, BidaskClub downgraded shares of General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.92.
In related news, CEO John Leonard Flannery acquired 103,983 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Tisch acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Insiders have bought 233,253 shares of company stock worth $5,860,264 in the last 90 days. 0.36% of the stock is owned by company insiders.
General Electric Company Profile
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