Capital One National Association Lowers Stake in General Electric Company (GE)
Capital One National Association cut its holdings in General Electric Company (NYSE:GE) by 30.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,931 shares of the conglomerate’s stock after selling 63,661 shares during the quarter. Capital One National Association’s holdings in General Electric were worth $3,942,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in GE. CHURCHILL MANAGEMENT Corp grew its position in shares of General Electric by 4.9% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 654,867 shares of the conglomerate’s stock valued at $19,515,000 after purchasing an additional 30,410 shares during the last quarter. New England Research & Management Inc. grew its position in shares of General Electric by 4.1% in the first quarter. New England Research & Management Inc. now owns 109,165 shares of the conglomerate’s stock valued at $3,253,000 after purchasing an additional 4,254 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of General Electric by 0.9% in the first quarter. Raymond James Trust N.A. now owns 384,287 shares of the conglomerate’s stock valued at $11,451,000 after purchasing an additional 3,350 shares during the last quarter. S&CO Inc. grew its position in shares of General Electric by 1.0% in the first quarter. S&CO Inc. now owns 412,358 shares of the conglomerate’s stock valued at $12,288,000 after purchasing an additional 4,242 shares during the last quarter. Finally, Cable Hill Partners LLC grew its position in shares of General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 54.71% of the company’s stock.
Shares of General Electric Company (GE) traded up 1.830% during trading on Thursday, hitting $24.765. 19,711,068 shares of the stock were exchanged. The stock has a market cap of $214.41 billion, a price-to-earnings ratio of 30.164 and a beta of 1.22. The stock’s 50 day moving average is $24.74 and its 200-day moving average is $27.46. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38. General Electric also saw unusually large options trading on Monday. Stock investors acquired 40,129 call options on the company. This is an increase of 145% compared to the average volume of 16,397 call options.
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 analysts’ consensus estimates of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts anticipate that General Electric Company will post $1.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors 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 annualized dividend and a yield of 3.95%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
Several analysts have recently commented on GE shares. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. 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 research report on Wednesday, June 7th. Citigroup Inc. reiterated a “buy” rating and issued a $34.00 price target (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. UBS AG reiterated a “buy” rating and issued a $31.00 price target (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 issued a $31.00 price target on shares of General Electric in a research report on Friday, September 15th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $28.98.
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In related news, Director James E. Rohr purchased 27,425 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.50 per share, for a total transaction of $699,337.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alexander Dimitrief purchased 1,845 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average price of $25.54 per share, with a total value of $47,121.30. Following the acquisition, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Insiders have purchased 233,253 shares of company stock valued at $5,860,264 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.
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