Shamrock Asset Management LLC boosted its stake in shares of General Electric Company (NYSE:GE) by 22.5% during the first quarter, Holdings Channel reports. The institutional investor owned 29,313 shares of the conglomerate’s stock after buying an additional 5,388 shares during the period. Shamrock Asset Management LLC’s holdings in General Electric were worth $870,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of GE. Insight 2811 Inc. boosted its position in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. boosted its position in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after buying an additional 158 shares in the last quarter. Huntington Steele LLC boosted its position in General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after buying an additional 165 shares in the last quarter. Commonwealth Financial Services LLC boosted its position in General Electric by 0.9% in the first quarter. Commonwealth Financial Services LLC now owns 23,035 shares of the conglomerate’s stock worth $690,000 after buying an additional 203 shares in the last quarter. Finally, Meridian Investment Counsel Inc. boosted its position in General Electric by 0.3% in the first quarter. Meridian Investment Counsel Inc. now owns 65,895 shares of the conglomerate’s stock worth $1,964,000 after buying an additional 218 shares in the last quarter. Institutional investors own 54.31% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded down 0.65% during trading on Friday, hitting $24.59. The company had a trading volume of 13,289,646 shares. General Electric Company has a 12-month low of $24.44 and a 12-month high of $32.38. The stock has a 50-day moving average of $26.02 and a 200 day moving average of $28.38. The stock has a market capitalization of $212.90 billion, a price-to-earnings ratio of 29.95 and a beta of 1.21.
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 the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, analysts predict that General Electric Company will post $1.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.88%. General Electric’s payout ratio is currently 118.52%.
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A number of research firms recently issued reports on GE. Cowen and Company reaffirmed a “hold” rating and issued a $30.00 price target on shares of General Electric in a report on Thursday, April 20th. Bank of America Corporation cut General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $31.00 in a report on Tuesday, April 25th. Stifel Nicolaus lifted their price target on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Argus cut their price target on General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 24th. Finally, Royal Bank Of Canada cut their price target on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and an average price target of $30.08.
In other General Electric news, Director James E. Rohr bought 27,425 shares of the stock in a transaction on Monday, July 24th. The stock was acquired at an average cost of $25.50 per share, for a total transaction of $699,337.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 133,253 shares of company stock valued at $3,404,264. 0.36% of the stock is currently owned by corporate insiders.
About General Electric
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