First Wilshire Securities Management Inc. decreased its holdings in shares of General Electric (NYSE:GE) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,001 shares of the conglomerate’s stock after selling 4,144 shares during the period. First Wilshire Securities Management Inc.’s holdings in General Electric were worth $1,859,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Ashburton Jersey Ltd bought a new position in shares of General Electric during the second quarter worth about $25,000. Employers Holdings Inc. bought a new position in shares of General Electric during the second quarter worth about $28,000. Fusion Family Wealth LLC grew its position in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC bought a new position in shares of General Electric during the fourth quarter worth about $30,000. Finally, Manchester Financial Inc. bought a new position in shares of General Electric during the second quarter worth about $30,000. Institutional investors and hedge funds own 59.26% of the company’s stock.
In other General Electric news, VP Thomas S. Timko purchased 10,000 shares of the business’s stock in a transaction on Monday, August 19th. The stock was bought at an average cost of $8.83 per share, with a total value of $88,300.00. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders acquired a total of 801,068 shares of company stock valued at $6,954,745 over the last three months. 1.13% of the stock is owned by corporate insiders.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.19 earnings per share. Equities analysts anticipate that General Electric will post 0.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s payout ratio is 6.15%.
GE has been the subject of several recent research reports. William Blair restated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Morgan Stanley initiated coverage on shares of General Electric in a research report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price target for the company. JPMorgan Chase & Co. set a $5.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Wednesday. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, Zacks Investment Research lowered shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.58.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
Recommended Story: What does the Dogs of the Dow mean?
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 (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.