Youngs Advisory Group Inc. Has $266,000 Stake in General Electric Company (NYSE:GE)
Youngs Advisory Group Inc. cut its stake in General Electric Company (NYSE:GE) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 8,918 shares of the conglomerate’s stock after selling 304 shares during the period. Youngs Advisory Group Inc.’s holdings in General Electric were worth $266,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in GE. Norges Bank bought a new stake in General Electric during the fourth quarter valued at approximately $2,383,193,000. Trustees of General Electric Pension Trust bought a new stake in General Electric during the fourth quarter valued at approximately $1,038,590,000. Teachers Advisors LLC increased its stake in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares during the period. Asset Management One Co. Ltd. increased its stake in General Electric by 848.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 15,458,705 shares of the conglomerate’s stock valued at $488,626,000 after buying an additional 13,828,422 shares during the period. Finally, Aviva PLC increased its stake in General Electric by 2.4% in the fourth quarter. Aviva PLC now owns 7,262,148 shares of the conglomerate’s stock valued at $229,775,000 after buying an additional 169,825 shares during the period. 54.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric Company (NYSE:GE) opened at 25.91 on Friday. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38. The stock has a market cap of $225.00 billion, a PE ratio of 26.38 and a beta of 1.22. The firm has a 50-day moving average price of $27.48 and a 200-day moving average price of $29.14. General Electric also was the target of some unusual options trading on Thursday. Stock traders acquired 35,785 put options on the company. This represents an increase of approximately 143% compared to the average daily volume of 14,713 put options.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 16.59% and a net margin of 7.48%. The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities analysts forecast that General Electric Company will post $1.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.71%. General Electric’s payout ratio is currently 118.52%.
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Several equities research analysts have commented on GE shares. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $33.56 target price on the stock. in a report on Tuesday, April 4th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the company a “sell” rating in a report on Saturday, May 20th. Stifel Nicolaus upped their price target on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Royal Bank Of Canada lowered their price target on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, April 24th. Finally, BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $31.08.
In related news, Chairman Jeffrey R. Immelt acquired 100,000 shares of General Electric stock in a transaction on Monday, May 15th. The stock was acquired at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Marijn E. Dekkers acquired 20,000 shares of General Electric stock in a transaction on Monday, April 24th. The shares were bought at an average price of $29.90 per share, with a total value of $598,000.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at approximately $29,900. The disclosure for this purchase can be found here. Insiders have acquired a total of 140,000 shares of company stock valued at $3,964,600 in the last quarter. Company insiders own 0.36% of the company’s stock.
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