Country Club Trust Company n.a. Purchases 10,148 Shares of General Electric Co. (GE)
Country Club Trust Company n.a. raised its stake in General Electric Co. (NYSE:GE) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 579,094 shares of the company’s stock after buying an additional 10,148 shares during the period. General Electric makes up approximately 2.6% of Country Club Trust Company n.a.’s investment portfolio, making the stock its 3rd largest position. Country Club Trust Company n.a.’s holdings in General Electric were worth $18,230,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GE. Chelsea Counsel Co. increased its position in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock valued at $5,280,000 after buying an additional 2,700 shares during the period. Catamount Wealth Management increased its position in shares of 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. Nexus Investment Management Inc. increased its position in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock valued at $21,762,000 after buying an additional 2,600 shares during the period. Kistler Tiffany Companies LLC increased its position in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock valued at $3,522,000 after buying an additional 672 shares during the period. Finally, First PREMIER Bank increased its position in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock valued at $2,332,000 after buying an additional 1,990 shares during the period. Institutional investors own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded up 0.42% during mid-day trading on Friday, hitting $28.89. The company had a trading volume of 28,181,380 shares. The firm has a 50-day moving average of $29.97 and a 200-day moving average of $30.69. The company has a market cap of $258.89 billion, a PE ratio of 24.42 and a beta of 1.15. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. On average, analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s payout ratio is 77.97%.
Several equities analysts recently weighed in on GE shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Zacks Investment Research downgraded shares of General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. set a $29.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Monday, June 27th. Credit Suisse Group AG restated an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a research report on Monday, June 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $34.00 price objective on shares of General Electric in a research report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.79.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.
General Electric Company Profile
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 Co. (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.