Wall Street Access Asset Management LLC lowered its stake in General Electric Co. (NYSE:GE) by 21.7% during the second quarter, Holdings Channel reports. The fund owned 23,119 shares of the company’s stock after selling 6,421 shares during the period. Wall Street Access Asset Management LLC’s holdings in General Electric were worth $727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Catamount Wealth Management raised its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares during the period. James Investment Research Inc. raised its position in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares during the period. Cranbrook Wealth Management LLC raised its position in General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock valued at $188,000 after buying an additional 1,000 shares during the period. Barry Investment Advisors LLC raised its position in General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock valued at $216,000 after buying an additional 50 shares during the period. Finally, Northwest Investment Counselors LLC raised its position in General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock valued at $216,000 after buying an additional 182 shares during the period. 55.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Electric Co. (NYSE:GE) traded up 0.64% during midday trading on Thursday, reaching $30.04. 29,349,360 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $30.88 and a 200-day moving average of $30.84. The stock has a market cap of $269.20 billion, a price-to-earnings ratio of 25.39 and a beta of 1.11. General Electric Co. has a one year low of $24.26 and a one year high of $33.00.

General Electric (NYSE:GE) last announced its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the Zacks’ 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 business earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts anticipate that General Electric Co. will post $1.51 earnings per share for the current year.

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

Several research analysts have recently weighed in on GE shares. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $33.10 price objective for the company. in a research report on Wednesday, May 25th. Bank of America Corp. reaffirmed a “buy” rating on shares of General Electric in a research report on Monday, June 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $34.00 target price on shares of General Electric in a research report on Monday, June 27th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $36.00 target price on shares of General Electric in a research report on Monday, July 25th. 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 currently has an average rating of “Hold” and an average target price of $32.64.

In other news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction that occurred 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

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