Tealwood Asset Management Inc. Increases Stake in General Electric Company (NYSE:GE)
Tealwood Asset Management Inc. increased its stake in General Electric Company (NYSE:GE) by 60.1% during the second quarter, Holdings Channel reports. The institutional investor owned 11,893 shares of the conglomerate’s stock after buying an additional 4,464 shares during the period. Tealwood Asset Management Inc.’s holdings in General Electric were worth $321,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in GE. Parallel Advisors LLC acquired a new stake in General Electric during the fourth quarter worth about $3,416,000. Chilton Capital Management LLC raised its stake in General Electric by 24.9% in the fourth quarter. Chilton Capital Management LLC now owns 522,614 shares of the conglomerate’s stock worth $16,515,000 after buying an additional 104,099 shares during the last quarter. Bristol Advisors LLC acquired a new stake in General Electric during the fourth quarter worth about $4,449,000. Folger Hill Asset Management LP acquired a new stake in General Electric during the fourth quarter worth about $595,000. Finally, Jafra Capital Management LP acquired a new stake in General Electric during the fourth quarter worth about $2,370,000. 54.24% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric Company (GE) traded up 0.08% during midday trading on Friday, hitting $25.78. The stock had a trading volume of 23,312,961 shares. The firm has a market capitalization of $223.20 billion, a PE ratio of 31.40 and a beta of 1.21. General Electric Company has a 1-year low of $25.26 and a 1-year high of $32.38. The company’s 50 day moving average price is $26.94 and its 200-day moving average price is $28.78.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that General Electric Company will post $1.57 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.72%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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A number of analysts have recently issued reports on the company. TheStreet lowered General Electric from a “b-” rating to a “c” rating in a report on Friday, May 19th. Morgan Stanley restated an “equal weight” rating and issued a $27.00 target price on shares of General Electric in a report on Monday, July 17th. Stifel Nicolaus restated a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Deutsche Bank AG lowered General Electric from a “hold” rating to a “sell” rating and reduced their target price for the company from $28.00 to $24.00 in a report on Friday, May 12th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $30.25.
In other General Electric news, insider Alexander Dimitrief purchased 1,845 shares of the business’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James E. Rohr purchased 27,425 shares of the business’s stock in a transaction on Monday, July 24th. The shares were acquired at an average cost of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 149,270 shares of company stock worth $4,113,059 over the last three months. Insiders own 0.36% of the company’s stock.
About General Electric
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