Gareth Morgan Investments Limited Partnership purchased a new stake in shares of General Electric Company (NYSE:GE) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,101 shares of the conglomerate’s stock, valued at approximately $1,016,000.

Several other large investors have also modified their holdings of the stock. Farmhouse Investment Management LLC purchased a new stake in General Electric during the first quarter worth $11,008,000. Flagship Harbor Advisors LLC increased its stake in General Electric by 6.7% in the first quarter. Flagship Harbor Advisors LLC now owns 106,415 shares of the conglomerate’s stock worth $3,182,000 after buying an additional 6,636 shares during the period. Flaharty Asset Management LLC purchased a new stake in General Electric during the first quarter worth $226,000. Shelton Capital Management increased its stake in General Electric by 12.4% in the first quarter. Shelton Capital Management now owns 227,660 shares of the conglomerate’s stock worth $6,784,000 after buying an additional 25,205 shares during the period. Finally, Southeast Asset Advisors Inc. increased its stake in General Electric by 4.1% in the first quarter. Southeast Asset Advisors Inc. now owns 15,715 shares of the conglomerate’s stock worth $468,000 after buying an additional 623 shares during the period. 54.29% of the stock is currently owned by institutional investors.

General Electric Company (NYSE GE) traded down 0.40% on Friday, reaching $25.20. 19,217,278 shares of the company traded hands. General Electric Company has a 52-week low of $25.19 and a 52-week high of $32.38. The stock has a 50-day moving average of $26.28 and a 200 day moving average of $28.52. The company has a market capitalization of $218.18 billion, a PE ratio of 30.69 and a beta of 1.21.

General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter last year, the firm earned $0.51 earnings per share. General Electric’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.57 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors 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 yield of 3.81%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.

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GE has been the topic of a number of recent research reports. UBS AG reissued a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus lifted 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. Deutsche Bank AG set a $24.00 target price 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 target price on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.08.

In other news, Director James E. Rohr bought 27,425 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.50 per share, with a total value of $699,337.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric 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 directly owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. Insiders have purchased 253,253 shares of company stock valued at $6,770,864 in the last three months. 0.36% of the stock is owned by insiders.

About General Electric

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

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