General Electric Company (GE) Position Decreased by Strategic Global Advisors LLC
Strategic Global Advisors LLC lowered its stake in shares of General Electric Company (NYSE:GE) by 6.8% during the first quarter, Holdings Channel reports. The firm owned 26,194 shares of the conglomerate’s stock after selling 1,901 shares during the period. Strategic Global Advisors LLC’s holdings in General Electric were worth $781,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in GE. Feltz Wealth PLAN Inc. acquired a new stake in General Electric during the first quarter valued at approximately $114,000. Heritage Way Advisors LLC purchased a new position in shares of General Electric during the fourth quarter valued at about $205,000. Cheviot Value Management LLC purchased a new position in shares of General Electric during the fourth quarter valued at about $208,000. Cable Hill Partners LLC boosted its position in shares of General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after buying an additional 780 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of General Electric during the first quarter valued at about $214,000. 54.29% of the stock is currently owned by institutional investors.
Shares of General Electric Company (NYSE GE) traded down 0.08% during trading on Wednesday, hitting $25.54. The stock had a trading volume of 2,500,519 shares. General Electric Company has a 52-week low of $25.26 and a 52-week high of $32.38. The firm has a market cap of $221.12 billion, a price-to-earnings ratio of 31.11 and a beta of 1.21. The firm’s 50-day moving average is $26.68 and its 200 day moving average is $28.71.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts expect that General Electric Company will post $1.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were issued a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.76%. General Electric’s dividend payout ratio is presently 118.52%.
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GE has been the topic of several research reports. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Saturday, May 20th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and issued a $26.00 target price (down from $27.00) on shares of General Electric in a research report on Monday, July 24th. Stifel Nicolaus raised their target price on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada dropped their target price on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $30.08.
In other General Electric news, Director William G. Beattie bought 16,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were acquired at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 149,270 shares of company stock valued at $4,113,059. Insiders own 0.36% of the company’s stock.
About General Electric
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