General Electric Company (GE) Position Boosted by Gotham Asset Management LLC

Gotham Asset Management LLC increased its position in shares of General Electric Company (NYSE:GE) by 34.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379,342 shares of the conglomerate’s stock after purchasing an additional 97,835 shares during the period. Gotham Asset Management LLC’s holdings in General Electric were worth $11,304,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the 1st quarter worth about $114,000. Cable Hill Partners LLC boosted its stake in shares of General Electric by 12.5% during the 1st quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after purchasing an additional 780 shares during the period. Parametrica Management Ltd purchased a new position in shares of General Electric during the 1st quarter worth about $214,000. Barber Financial Group Inc. boosted its stake in shares of General Electric by 3.1% during the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 220 shares during the period. Finally, Hays Advisory LLC boosted its stake in shares of General Electric by 12.2% during the 1st quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock worth $222,000 after purchasing an additional 810 shares during the period. 54.78% of the stock is owned by hedge funds and other institutional investors.

Shares of General Electric Company (GE) traded down 0.83% on Friday, hitting $23.82. 44,604,454 shares of the stock were exchanged. The stock has a market cap of $206.23 billion, a PE ratio of 29.01 and a beta of 1.22. The company’s 50 day moving average is $25.05 and its 200-day moving average is $27.80. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38.

General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. Analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 4.03%. General Electric’s dividend payout ratio (DPR) is 118.52%.

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A number of research firms recently commented on GE. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.71 price target for the company. in a research note on Monday, June 12th. Morgan Stanley reiterated an “equal weight” rating and set a $27.00 price objective on shares of General Electric in a report on Monday, July 17th. CIBC reiterated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of General Electric in a report on Wednesday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.08.

In other news, CEO John Leonard Flannery bought 103,983 shares of General Electric stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Rohr bought 27,425 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by corporate insiders.

General Electric Company Profile

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

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