Flaharty Asset Management LLC purchased a new position in shares of General Electric Company (NYSE:GE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,532 shares of the conglomerate’s stock, valued at approximately $226,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Shelton Capital Management raised its holdings in General Electric by 12.4% during the first quarter. Shelton Capital Management now owns 227,660 shares of the conglomerate’s stock worth $6,784,000 after purchasing an additional 25,205 shares in the last quarter. Southeast Asset Advisors Inc. raised its holdings in General Electric by 4.1% during the first quarter. Southeast Asset Advisors Inc. now owns 15,715 shares of the conglomerate’s stock worth $468,000 after purchasing an additional 623 shares in the last quarter. Investment Centers of America Inc. raised its holdings in General Electric by 7.5% during the first quarter. Investment Centers of America Inc. now owns 249,066 shares of the conglomerate’s stock worth $7,424,000 after purchasing an additional 17,344 shares in the last quarter. BlueCrest Capital Management Ltd raised its holdings in General Electric by 22.9% during the first quarter. BlueCrest Capital Management Ltd now owns 246,795 shares of the conglomerate’s stock worth $7,354,000 after purchasing an additional 45,922 shares in the last quarter. Finally, Gotham Asset Management LLC raised its holdings in General Electric by 34.8% during the first quarter. Gotham Asset Management LLC now owns 379,342 shares of the conglomerate’s stock worth $11,304,000 after purchasing an additional 97,835 shares in the last quarter. 54.78% of the stock is owned by hedge funds and other institutional investors.
Shares of General Electric Company (NYSE GE) traded down 0.3774% during trading on Monday, hitting $23.7301. 18,497,043 shares of the company’s stock were exchanged. The firm has a market capitalization of $205.45 billion, a PE ratio of 28.9039 and a beta of 1.22. General Electric Company has a 1-year low of $23.58 and a 1-year high of $32.38. The stock’s 50 day moving average is $25.03 and its 200 day moving average is $27.76.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, equities research analysts forecast that General Electric Company will post $1.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be given a $0.24 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.03%. General Electric’s dividend payout ratio is 118.52%.
In other news, insider Alexander Dimitrief purchased 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Leonard Flannery purchased 103,983 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the transaction, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. Insiders purchased a total of 233,253 shares of company stock worth $5,860,264 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.
Several research analysts recently issued reports on GE shares. TheStreet cut shares of General Electric from a “b-” rating to a “c” rating in a report on Friday, May 19th. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the company a “sell” rating in a report on Saturday, May 20th. Credit Suisse Group dropped their target price on shares of General Electric from $33.00 to $27.00 and set an “outperform” rating for the company in a report on Thursday, June 1st. They noted that the move was a valuation call. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price for the company in a report on Wednesday, June 7th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $30.00 target price on shares of General Electric in a report on Tuesday, June 13th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.08.
About General Electric
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