General Electric Company (NYSE:GE) Position Decreased by First National Bank of Omaha
First National Bank of Omaha decreased its stake in shares of General Electric Company (NYSE:GE) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 834,730 shares of the conglomerate’s stock after selling 28,254 shares during the period. General Electric comprises approximately 1.4% of First National Bank of Omaha’s portfolio, making the stock its 8th largest position. First National Bank of Omaha’s holdings in General Electric were worth $22,546,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of General Electric during the fourth quarter valued at approximately $2,383,193,000. Harris Associates L P boosted its position in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after buying an additional 776,656 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of General Electric by 11.0% in the second quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after buying an additional 1,005,937 shares in the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.
General Electric Company (NYSE GE) traded down 0.40% during midday trading on Friday, hitting $25.20. 19,217,278 shares of the stock were exchanged. The company has a market cap of $218.18 billion, a PE ratio of 30.69 and a beta of 1.21. The firm’s 50 day moving average price is $26.28 and its 200 day moving average price is $28.52. General Electric Company has a 12 month low of $25.19 and a 12 month high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) 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 firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is currently 118.52%.
Several brokerages recently issued reports on GE. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.71 price target on the stock. in a research report on Monday, June 12th. Morgan Stanley reiterated an “equal weight” rating and set a $27.00 price target on shares of General Electric in a research report on Monday, July 17th. Argus reduced their price target on shares of General Electric from $36.00 to $33.00 and set a “buy” rating on the stock in a research report on Monday, April 24th. Finally, Stifel Nicolaus boosted their price target on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Four investment 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 stock. General Electric presently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, Director William G. Beattie acquired 16,000 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $28.05 per share, with a total value of $448,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 253,253 shares of company stock worth $6,770,864. Insiders own 0.36% of the company’s stock.
General Electric Company Profile
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