Visionary Asset Management Inc. cut its position in shares of General Electric Company (NYSE:GE) by 7.7% during the second quarter, Holdings Channel reports. The institutional investor owned 99,873 shares of the conglomerate’s stock after selling 8,362 shares during the period. Visionary Asset Management Inc.’s holdings in General Electric were worth $2,698,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GE. BerganKDV Wealth Management LLC increased its position in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after buying an additional 36 shares in the last quarter. Insight 2811 Inc. increased its position in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. increased its position in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares in the last quarter. Smith Shellnut Wilson LLC ADV increased its position in General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after buying an additional 160 shares in the last quarter. Finally, Huntington Steele LLC increased its position in General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.

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

General Electric (NYSE:GE) last announced its 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. The business had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.51 EPS. Equities analysts predict that General Electric Company will post $1.57 earnings per share for the current year.

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

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A number of research analysts have commented on the company. Cowen and Company reaffirmed a “hold” rating and set a $24.00 target price on shares of General Electric in a report on Monday. Stifel Nicolaus reduced their target price on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the stock a “sell” rating in a report on Monday, July 24th. Citigroup Inc. reaffirmed a “buy” rating and set a $31.00 target price (down previously from $34.00) on shares of General Electric in a report on Monday, July 24th. Finally, Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price on the stock in a report on Wednesday, June 7th. Four 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 stock. General Electric presently has an average rating of “Hold” and an average price target of $30.08.

In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the transaction, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William G. Beattie acquired 16,000 shares of General Electric stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $28.05 per share, for a total transaction of $448,800.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 253,253 shares of company stock worth $6,770,864. Company 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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