Mutual of America Capital Management LLC Sells 63,715 Shares of General Electric Co. (GE)
Mutual of America Capital Management LLC lowered its stake in shares of General Electric Co. (NYSE:GE) by 5.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,168,617 shares of the company’s stock after selling 63,715 shares during the period. General Electric accounts for about 0.8% of Mutual of America Capital Management LLC’s portfolio, making the stock its 7th largest position. Mutual of America Capital Management LLC’s holdings in General Electric were worth $36,788,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Patten & Patten Inc. TN increased its position in General Electric by 1.5% in the second quarter. Patten & Patten Inc. TN now owns 640,718 shares of the company’s stock valued at $20,170,000 after buying an additional 9,512 shares in the last quarter. Baxter Bros Inc. purchased a new stake in General Electric during the second quarter valued at about $11,436,000. Howland Capital Management LLC boosted its stake in General Electric by 7.6% in the second quarter. Howland Capital Management LLC now owns 1,255,577 shares of the company’s stock valued at $39,526,000 after buying an additional 89,178 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd boosted its stake in General Electric by 1.2% in the second quarter. Osborn Rohs Williams & Donohoe Ltd now owns 290,268 shares of the company’s stock valued at $9,138,000 after buying an additional 3,405 shares during the last quarter. Finally, Cacti Asset Management LLC boosted its stake in General Electric by 1.2% in the second quarter. Cacti Asset Management LLC now owns 97,525 shares of the company’s stock valued at $3,070,000 after buying an additional 1,175 shares during the last quarter. 55.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric Co. (NYSE:GE) traded up 0.64% during trading on Thursday, hitting $30.04. 29,349,360 shares of the stock were exchanged. 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 price-to-earnings ratio of 25.39 and a beta of 1.11. The firm has a 50 day moving average of $30.88 and a 200-day moving average of $30.84.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating 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 company earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter last year, the company earned $0.31 earnings per share. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, analysts forecast that General Electric Co. will post $1.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is 77.97%.
A number of equities research analysts have weighed in on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $33.10 price target for the company. in a research report on Wednesday, May 25th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Wednesday, June 29th. Finally, William Blair set a $38.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Thursday, September 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and a consensus price target of $32.64.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.
General Electric Company Profile
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.