General Electric Company (NYSE:GE) is North American Management Corp’s 4th Largest Position
North American Management Corp reduced its stake in shares of General Electric Company (NYSE:GE) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 902,754 shares of the conglomerate’s stock after selling 3,877 shares during the period. General Electric comprises approximately 3.9% of North American Management Corp’s holdings, making the stock its 4th largest position. North American Management Corp’s holdings in General Electric were worth $24,383,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Ullmann Financial Group Inc. bought a new stake in shares of General Electric during the first quarter valued at about $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the first quarter valued at $114,000. PHH Investments Ltd. increased its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. Empirical Finance LLC acquired a new stake in shares of General Electric during the fourth quarter valued at $140,000. Finally, Northwest Quadrant Wealth Management LLC acquired a new stake in shares of General Electric during the fourth quarter valued at $177,000. Hedge funds and other institutional investors own 54.25% of the company’s stock.
General Electric Company (NYSE GE) opened at 25.43 on Tuesday. The company has a market cap of $220.50 billion, a PE ratio of 30.97 and a beta of 1.22. The firm has a 50-day moving average of $27.35 and a 200-day moving average of $29.04. General Electric Company has a one year low of $25.26 and a one year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.60%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 earnings per share. On average, analysts predict that General Electric Company will post $1.60 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.78%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
Several analysts have recently weighed in on the company. TheStreet downgraded General Electric from a “b-” rating to a “c” rating in a research note on Friday, May 19th. Morgan Stanley restated an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus restated a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG downgraded General Electric from a “hold” rating to a “sell” rating and lowered their target price for the company from $28.00 to $24.00 in a research note on Friday, May 12th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.25.
In related news, Director William G. Beattie bought 4,000 shares of General Electric stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $27.70 per share, for a total transaction of $110,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of General Electric stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the transaction, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 120,000 shares of company stock worth $3,366,600. Company insiders own 0.36% of the company’s stock.
About General Electric
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