Olstein Capital Management L.P. raised its holdings in General Electric Company (NYSE:GE) by 32.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 332,900 shares of the conglomerate’s stock after purchasing an additional 81,900 shares during the quarter. Olstein Capital Management L.P.’s holdings in General Electric were worth $8,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Warren Averett Asset Management LLC boosted its holdings in General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Sabal Trust CO lifted its position in shares of General Electric by 5.4% during the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after acquiring an additional 55,049 shares during the period. Rockland Trust Co. lifted its position in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after acquiring an additional 16,309 shares during the period. Rothschild Investment Corp IL lifted its position in shares of General Electric by 2.4% during the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after acquiring an additional 10,906 shares during the period. Finally, Windsor Financial Group LLC lifted its position in shares of General Electric by 497.6% during the 1st quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after acquiring an additional 130,275 shares during the period. 54.75% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. Vetr downgraded shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a research report on Monday, September 25th. Royal Bank Of Canada downgraded shares of General Electric from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $25.00 to $20.00 in a research report on Tuesday, November 14th. J P Morgan Chase & Co set a $17.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Wednesday, November 15th. Goldman Sachs Group, Inc. (The) set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $23.00 price target (down from $27.00) on shares of General Electric in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.49.

General Electric Company (NYSE GE) opened at $18.15 on Thursday. 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 firm has a market capitalization of $154,623.28, a price-to-earnings ratio of 14.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.11. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 earnings per share. equities research analysts anticipate that General Electric Company will post 1.06 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 5.29%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.

COPYRIGHT VIOLATION NOTICE: “Olstein Capital Management L.P. Has $8.99 Million Holdings in General Electric Company (GE)” was originally published by Daily Political and is the sole property of of Daily Political. If you are viewing this story on another publication, it was illegally copied and republished in violation of US & international trademark & copyright law. The original version of this story can be read at https://www.dailypolitical.com/2017/11/23/olstein-capital-management-l-p-has-8-99-million-holdings-in-general-electric-company-ge.html.

In related news, Chairman John Leonard Flannery acquired 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Francisco Dsouza acquired 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 120,500 shares of company stock valued at $2,183,220 over the last quarter. 0.36% of the stock is currently owned by insiders.

General Electric Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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.