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%.

COPYRIGHT VIOLATION NOTICE: “General Electric Company (NYSE:GE) Position Decreased by First National Bank of Omaha” was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/13/general-electric-company-nysege-position-decreased-by-first-national-bank-of-omaha.html.

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

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).

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

Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.