Accurate Investment Solutions Inc. Increases Holdings in General Electric Company (GE)
Accurate Investment Solutions Inc. raised its stake in General Electric Company (NYSE:GE) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 121,007 shares of the conglomerate’s stock after acquiring an additional 5,297 shares during the period. General Electric makes up 2.7% of Accurate Investment Solutions Inc.’s portfolio, making the stock its 24th largest holding. Accurate Investment Solutions Inc.’s holdings in General Electric were worth $3,268,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Pure Financial Advisors Inc. increased its holdings in General Electric by 15.2% in the 1st quarter. Pure Financial Advisors Inc. now owns 8,004 shares of the conglomerate’s stock valued at $239,000 after acquiring an additional 1,055 shares during the last quarter. Confluence Investment Management LLC increased its holdings in General Electric by 5.3% in the 1st quarter. Confluence Investment Management LLC now owns 1,911,730 shares of the conglomerate’s stock valued at $56,970,000 after acquiring an additional 96,460 shares during the last quarter. West Oak Capital LLC increased its holdings in General Electric by 0.9% in the 1st quarter. West Oak Capital LLC now owns 65,797 shares of the conglomerate’s stock valued at $1,961,000 after acquiring an additional 572 shares during the last quarter. Catawba Capital Management VA increased its holdings in General Electric by 5.9% in the 1st quarter. Catawba Capital Management VA now owns 185,520 shares of the conglomerate’s stock valued at $5,528,000 after acquiring an additional 10,268 shares during the last quarter. Finally, Trust Co increased its holdings in General Electric by 0.3% in the 4th quarter. Trust Co now owns 366,572 shares of the conglomerate’s stock valued at $11,584,000 after acquiring an additional 999 shares during the last quarter. Institutional investors own 54.78% of the company’s stock.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by corporate insiders.
GE has been the topic of a number of research reports. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target on the stock in a report on Wednesday, June 7th. Stifel Nicolaus restated a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Citigroup Inc. restated a “buy” rating and issued a $34.00 target price (down from $36.00) on shares of General Electric in a report on Monday, July 10th. UBS AG restated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of General Electric in a report on Friday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $29.42.
General Electric Company (NYSE GE) traded down 0.37% during midday trading on Friday, reaching $23.93. 66,559,977 shares of the company’s stock traded hands. The company has a market capitalization of $207.18 billion, a price-to-earnings ratio of 29.15 and a beta of 1.22. The firm’s 50-day moving average is $24.82 and its 200-day moving average is $27.58. General Electric Company has a 1-year low of $23.58 and a 1-year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings data 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 company had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that General Electric Company will post $1.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. General Electric’s payout ratio is currently 118.52%.
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About General Electric
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