Butensky & Cohen Financial Security Inc. Raises Stake in General Electric Company (GE)
Butensky & Cohen Financial Security Inc. increased its position in General Electric Company (NYSE:GE) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 70,863 shares of the conglomerate’s stock after buying an additional 1,215 shares during the period. General Electric makes up 1.7% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 22nd largest position. Butensky & Cohen Financial Security Inc.’s holdings in General Electric were worth $1,914,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. D Orazio & Associates Inc. raised its stake in shares of General Electric by 8.2% in the fourth quarter. D Orazio & Associates Inc. now owns 25,645 shares of the conglomerate’s stock worth $810,000 after buying an additional 1,952 shares in the last quarter. L & S Advisors Inc acquired a new stake in shares of General Electric during the fourth quarter worth $4,156,000. Fortis Advisors LLC acquired a new stake in shares of General Electric during the fourth quarter worth $291,000. Princeton Portfolio Strategies Group LLC raised its stake in shares of General Electric by 4.7% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 274,291 shares of the conglomerate’s stock worth $8,668,000 after buying an additional 12,215 shares in the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in shares of General Electric during the fourth quarter worth $15,250,000. 54.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Company (NYSE:GE) traded down 0.81% on Friday, hitting $24.55. The company had a trading volume of 34,273,076 shares. The company has a 50-day moving average of $25.95 and a 200 day moving average of $28.34. General Electric Company has a 12 month low of $24.44 and a 12 month high of $32.38. The stock has a market cap of $212.55 billion, a PE ratio of 29.90 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 for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. Analysts anticipate that General Electric Company will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.91%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
A number of equities research analysts have weighed in on the company. TheStreet lowered General Electric from a “b-” rating to a “c” rating in a report on Friday, May 19th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 price objective on shares of General Electric in a report on Monday, July 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, Deutsche Bank AG lowered General Electric from a “hold” rating to a “sell” rating and lowered their price objective for the company from $28.00 to $24.00 in a report on Friday, May 12th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $30.08.
In other news, insider Alexander Dimitrief purchased 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Rohr purchased 27,425 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 133,253 shares of company stock valued at $3,404,264. 0.36% of the stock is owned by insiders.
About General Electric
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