General Electric Company (GE) Shares Bought by Centre Asset Management LLC
Centre Asset Management LLC boosted its position in shares of General Electric Company (NYSE:GE) by 7.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 349,330 shares of the conglomerate’s stock after purchasing an additional 23,580 shares during the quarter. General Electric makes up 2.5% of Centre Asset Management LLC’s portfolio, making the stock its 11th biggest holding. Centre Asset Management LLC’s holdings in General Electric were worth $9,435,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ullmann Financial Group Inc. purchased a new stake in General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. purchased a new stake in General Electric during the first quarter worth $114,000. PHH Investments Ltd. boosted its position in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares in the last quarter. Cable Hill Partners LLC boosted its position in General Electric by 12.5% during the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after purchasing an additional 780 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in General Electric during the first quarter worth $214,000. Institutional investors own 54.78% of the company’s stock.
A number of analysts have commented on GE shares. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price on the stock in a research report on Wednesday, June 7th. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. Citigroup Inc. reiterated a “buy” rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. UBS AG reiterated 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. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. General Electric has an average rating of “Hold” and an average price target of $29.42.
In other news, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the transaction, 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 purchased 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.
Shares of General Electric Company (GE) traded down 0.37% during midday trading on Friday, reaching $23.93. The company’s stock had a trading volume of 66,559,977 shares. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38. The stock has a market capitalization of $207.18 billion, a PE ratio of 29.15 and a beta of 1.22. The stock has a 50-day moving average price of $24.82 and a 200 day moving average price of $27.58.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 14.59% and a net margin of 6.45%. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. Equities analysts forecast that General Electric Company will post $1.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be given 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 118.52%.
About General Electric
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.