General Electric Co. (GE) Position Cut by Hanseatic Management Services Inc.
Hanseatic Management Services Inc. decreased its position in shares of General Electric Co. (NYSE:GE) by 55.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,862 shares of the company’s stock after selling 30,401 shares during the period. Hanseatic Management Services Inc.’s holdings in General Electric were worth $783,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Rockefeller Financial Services Inc. increased its stake in General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock valued at $10,019,000 after buying an additional 20,893 shares during the period. Appleton Partners Inc. MA increased its stake in General Electric by 3.1% in the second quarter. Appleton Partners Inc. MA now owns 265,352 shares of the company’s stock valued at $8,353,000 after buying an additional 7,908 shares during the period. Charter Trust Co. increased its stake in General Electric by 1.5% in the second quarter. Charter Trust Co. now owns 1,235,479 shares of the company’s stock valued at $38,893,000 after buying an additional 18,811 shares during the period. GWM Advisors LLC increased 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 period. Finally, S&CO Inc. increased its stake in General Electric by 5.5% in the second quarter. S&CO Inc. now owns 413,444 shares of the company’s stock valued at $13,015,000 after buying an additional 21,733 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.42% on Friday, hitting $28.89. 28,181,380 shares of the stock traded hands. General Electric Co. has a 12-month low of $27.10 and a 12-month high of $33.00. The stock has a market cap of $258.89 billion, a price-to-earnings ratio of 24.42 and a beta of 1.15. The firm’s 50-day moving average price is $29.97 and its 200-day moving average price is $30.69.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the 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 had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same period in the previous year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric Co. will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio is presently 77.97%.
GE has been the topic of several recent research reports. Goldman Sachs Group Inc. set a $28.00 price objective on shares of General Electric and gave the company a “neutral” rating in a report on Friday, September 30th. JPMorgan Chase & Co. set a $28.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Friday, September 23rd. Stifel Nicolaus set a $31.00 price target on shares of General Electric and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley set a $32.00 price target on shares of General Electric and gave the stock a “hold” rating in a report on Wednesday, August 31st. Finally, Zacks Investment Research downgraded shares of General Electric from a “buy” rating to a “hold” rating in a report on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $32.79.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.
General Electric Company Profile
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