Shell Asset Management Co. Purchases 30,341 Shares of General Electric Company (GE)

Shell Asset Management Co. grew its position in shares of General Electric Company (NYSE:GE) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392,298 shares of the conglomerate’s stock after purchasing an additional 30,341 shares during the quarter. General Electric makes up about 0.9% of Shell Asset Management Co.’s portfolio, making the stock its 17th biggest holding. Shell Asset Management Co.’s holdings in General Electric were worth $37,606,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GE. First Command Financial Services Inc. increased its holdings in shares of General Electric by 0.4% during the 1st quarter. First Command Financial Services Inc. now owns 53,305 shares of the conglomerate’s stock valued at $1,588,000 after purchasing an additional 229 shares in the last quarter. Visionary Asset Management Inc. increased its holdings in shares of General Electric by 2.7% during the 1st quarter. Visionary Asset Management Inc. now owns 108,235 shares of the conglomerate’s stock valued at $3,225,000 after purchasing an additional 2,873 shares in the last quarter. Hays Advisory LLC increased its holdings in shares of General Electric by 12.2% during the 1st quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock valued at $222,000 after purchasing an additional 810 shares in the last quarter. Parametrica Management Ltd purchased a new position in shares of General Electric during the 1st quarter valued at approximately $214,000. Finally, Winslow Evans & Crocker Inc. increased its holdings in shares of General Electric by 0.4% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 96,678 shares of the conglomerate’s stock valued at $2,881,000 after purchasing an additional 364 shares in the last quarter. 54.69% of the stock is owned by hedge funds and other institutional investors.

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General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.

GE has been the subject of several recent research reports. Citigroup Inc. reaffirmed a “buy” rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a report on Monday, July 10th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price for the company. in a report on Tuesday, July 4th. UBS AG reissued a “buy” rating and issued a $31.00 price target (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Stifel Nicolaus cut their price target on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price target on shares of General Electric in a report on Friday, September 15th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $28.16.

In related news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is currently owned by company insiders.

General Electric Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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