Community Bank of Raymore Buys 254,243 Shares of General Electric Company (NYSE:GE)
Community Bank of Raymore increased its position in shares of General Electric Company (NYSE:GE) by 40.3% during the second quarter, Holdings Channel reports. The firm owned 884,643 shares of the conglomerate’s stock after buying an additional 254,243 shares during the period. General Electric comprises 10.0% of Community Bank of Raymore’s holdings, making the stock its 2nd largest position. Community Bank of Raymore’s holdings in General Electric were worth $23,894,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in GE. Ullmann Financial Group Inc. acquired a new position in General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. acquired a new position in General Electric during the first quarter worth $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the period. Heritage Way Advisors LLC acquired a new position in General Electric during the fourth quarter worth $205,000. Finally, Cheviot Value Management LLC acquired a new position in General Electric during the fourth quarter worth $208,000. 54.29% of the stock is owned by institutional investors and hedge funds.
General Electric Company (NYSE:GE) traded up 0.293% during mid-day trading on Wednesday, hitting $25.635. The company had a trading volume of 11,233,943 shares. General Electric Company has a 52-week low of $25.26 and a 52-week high of $32.38. The company has a 50-day moving average price of $26.68 and a 200 day moving average price of $28.71. The company has a market capitalization of $221.95 billion, a P/E ratio of 31.224 and a beta of 1.21.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the prior year, the company earned $0.51 EPS. General Electric’s revenue was down 11.8% on a year-over-year basis. On average, analysts forecast that General Electric Company will post $1.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.
GE has been the subject of a number of recent research reports. UBS AG reissued a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Stifel Nicolaus raised their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target for the company. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four 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 company has a consensus rating of “Hold” and a consensus target price of $30.08.
In related news, Director William G. Beattie purchased 16,000 shares of General Electric stock in a transaction on Monday, May 15th. The shares were bought at an average price of $28.05 per share, with a total value of $448,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director James E. Rohr purchased 27,425 shares of General Electric stock in a transaction on Monday, July 24th. The stock was bought 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 acquired a total of 149,270 shares of company stock worth $4,113,059 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
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