Tarbox Family Office Inc. cut its position in General Electric Company (NYSE:GE) by 22.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,639 shares of the conglomerate’s stock after selling 2,500 shares during the period. Tarbox Family Office Inc.’s holdings in General Electric were worth $233,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GE. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric during the first quarter worth about $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the first quarter worth about $114,000. PHH Investments Ltd. boosted 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 worth $116,000 after buying an additional 2,000 shares during the period. Heritage Way Advisors LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $205,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $208,000. 54.29% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Company (NYSE:GE) traded down 0.89% during midday trading on Thursday, hitting $25.48. 11,798,666 shares of the stock traded hands. The firm’s 50-day moving average is $26.42 and its 200-day moving average is $28.58. General Electric Company has a 52-week low of $25.26 and a 52-week high of $32.38. The company has a market cap of $220.60 billion, a price-to-earnings ratio of 31.04 and a beta of 1.21.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during 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 14.59%. The business’s revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. Analysts predict that General Electric Company will post $1.57 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.

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A number of equities research analysts have recently issued reports on GE shares. UBS AG reaffirmed a “buy” rating and issued a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Stifel Nicolaus upped their price objective on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the company a “sell” rating in a research note on Monday, May 29th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective for the company. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Friday, July 7th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.08.

In related news, Chairman Jeffrey R. Immelt bought 100,000 shares of the stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William G. Beattie bought 4,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $27.70 per share, with a total value of $110,800.00. The disclosure for this purchase can be found here. Insiders have bought 253,253 shares of company stock valued at $6,770,864 over the last three months. Insiders own 0.36% of the company’s stock.

About General Electric

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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