General Electric Company (GE) Stake Lessened by Legacy Capital Partners Inc.
Legacy Capital Partners Inc. cut its stake in General Electric Company (NYSE:GE) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,281 shares of the conglomerate’s stock after selling 600 shares during the period. Legacy Capital Partners Inc.’s holdings in General Electric were worth $305,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GE. Ullmann Financial Group Inc. acquired a new stake in General Electric during the first quarter valued at approximately $106,000. PHH Investments Ltd. lifted its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the last quarter. Oakmont Partners LLC lifted its stake in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 278 shares during the last quarter. Cascade Investment Advisors Inc. lifted its stake in General Electric by 25.2% during the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock valued at $218,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Barber Financial Group Inc. lifted its stake in General Electric by 3.1% during the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after purchasing an additional 220 shares during the last quarter. Institutional investors and hedge funds own 54.38% of the company’s stock.
In related news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.36% of the company’s stock.
General Electric Company (NYSE GE) opened at $19.99 on Friday. General Electric Company has a 12 month low of $19.63 and a 12 month high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The stock has a market cap of $174,482.36, a price-to-earnings ratio of 16.23, a P/E/G ratio of 2.11 and a beta of 1.11.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. equities analysts anticipate that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.80%. General Electric’s payout ratio is presently 120.00%.
Several analysts recently commented on the stock. J P Morgan Chase & Co set a $17.00 target price on shares of General Electric and gave the company a “sell” rating in a research note on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus lowered shares of General Electric from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 24th. Credit Suisse Group reissued an “outperform” rating and set a $33.00 target price on shares of General Electric in a research note on Saturday, July 22nd. Finally, Cowen and Company reissued a “hold” rating and set a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Six research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.55.
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