State Treasurer State of Michigan cut its position in shares of General Electric Co. (NYSE:GE) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,745,488 shares of the company’s stock after selling 1,200 shares during the period. General Electric comprises about 0.9% of State Treasurer State of Michigan’s portfolio, making the stock its 25th largest position. State Treasurer State of Michigan’s holdings in General Electric were worth $117,908,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GE. Abner Herrman & Brock LLC raised its stake in General Electric by 9.0% in the second quarter. Abner Herrman & Brock LLC now owns 354,721 shares of the company’s stock valued at $11,426,000 after buying an additional 29,308 shares during the last quarter. GWM Advisors LLC raised its stake in General Electric by 506.3% in the second quarter. GWM Advisors LLC now owns 50,829 shares of the company’s stock valued at $1,595,000 after buying an additional 42,445 shares during the last quarter. Armstrong Henry H Associates Inc. raised its stake in General Electric by 0.7% in the second quarter. Armstrong Henry H Associates Inc. now owns 187,233 shares of the company’s stock valued at $5,894,000 after buying an additional 1,386 shares during the last quarter. Cabot Wealth Management Inc. raised its stake in General Electric by 0.6% in the second quarter. Cabot Wealth Management Inc. now owns 17,085 shares of the company’s stock valued at $538,000 after buying an additional 98 shares during the last quarter. Finally, Bouchey Financial Group Ltd raised its stake in General Electric by 4.4% in the second quarter. Bouchey Financial Group Ltd now owns 154,815 shares of the company’s stock valued at $4,874,000 after buying an additional 6,506 shares during the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.

General Electric Co. (NYSE:GE) traded up 0.64% during midday trading on Thursday, reaching $30.04. The company’s stock had a trading volume of 29,358,210 shares. General Electric Co. has a 12 month low of $24.26 and a 12 month high of $33.00. The company has a market cap of $269.20 billion, a PE ratio of 25.39 and a beta of 1.11. The stock has a 50-day moving average price of $30.88 and a 200 day moving average price of $30.84.

General Electric (NYSE:GE) last posted 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 firm had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. Analysts expect that General Electric Co. will post $1.51 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.06%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.

Several analysts recently issued reports on GE shares. Goldman Sachs Group Inc. set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a report on Monday, June 27th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 target price on the stock in a report on Thursday, July 7th. Royal Bank Of Canada reiterated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. William Blair restated an “outperform” rating and issued a $38.00 price objective on shares of General Electric in a research note on Wednesday, June 29th. Finally, Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, September 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $32.64.

In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

General Electric Company Profile

5 Day Chart for NYSE:GE

Receive News & Ratings for General Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.