SPC Financial Inc. Sells 400 Shares of General Electric Co. (GE)
SPC Financial Inc. lowered its position in General Electric Co. (NYSE:GE) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 42,420 shares of the company’s stock after selling 400 shares during the period. SPC Financial Inc.’s holdings in General Electric were worth $1,335,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Catamount Wealth Management boosted 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 worth $110,000 after buying an additional 901 shares in the last quarter. James Investment Research Inc. boosted 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 worth $184,000 after buying an additional 150 shares in the last quarter. Barry Investment Advisors LLC boosted 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 worth $216,000 after buying an additional 50 shares in the last quarter. D. Scott Neal Inc. boosted its position in General Electric by 1.3% in the second quarter. D. Scott Neal Inc. now owns 7,441 shares of the company’s stock worth $234,000 after buying an additional 93 shares in the last quarter. Finally, Windward Capital Management Co. CA boosted its position in General Electric by 1.2% in the second quarter. Windward Capital Management Co. CA now owns 7,873 shares of the company’s stock worth $248,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.65% on Friday, hitting $29.08. The company’s stock had a trading volume of 37,840,132 shares. The firm has a market cap of $260.59 billion, a PE ratio of 24.58 and a beta of 1.15. The company has a 50 day moving average of $30.31 and a 200 day moving average of $30.77. General Electric Co. has a 1-year low of $27.10 and a 1-year high of $33.00.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts forecast that General Electric Co. will post $1.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is 77.97%.
GE has been the subject of a number of research analyst reports. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target for the company in a report on Monday, June 27th. Stifel Nicolaus reiterated a “buy” rating and set a $34.00 price target on shares of General Electric in a report on Monday, June 27th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reissued a “buy” rating and set a $36.00 target price on shares of General Electric in a research note on Monday, July 25th. Finally, TheStreet raised General Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $32.81.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the purchase, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.
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