SOL Capital Management CO Has $3.38 Million Stake in General Electric Company (GE)

SOL Capital Management CO reduced its stake in shares of General Electric Company (NYSE:GE) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,200 shares of the conglomerate’s stock after selling 2,180 shares during the quarter. General Electric comprises 0.9% of SOL Capital Management CO’s portfolio, making the stock its 24th biggest position. SOL Capital Management CO’s holdings in General Electric were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Harris Associates L P grew its position in shares of General Electric by 26.4% during the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of General Electric by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after buying an additional 776,656 shares during the period. APG Asset Management N.V. grew its position in shares of General Electric by 0.9% during the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after buying an additional 159,600 shares during the period. US Bancorp DE grew its position in shares of General Electric by 2.2% during the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after buying an additional 243,034 shares during the period. Finally, Bank of Montreal Can grew its position in shares of General Electric by 11.0% during the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock worth $274,401,000 after buying an additional 1,005,937 shares during the period. Institutional investors own 54.78% of the company’s stock.

Shares of General Electric Company (GE) traded down 0.37% during midday trading on Friday, hitting $23.93. The stock had a trading volume of 66,559,977 shares. The company’s 50 day moving average is $24.82 and its 200 day moving average is $27.58. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38. The firm has a market cap of $207.18 billion, a P/E ratio of 29.15 and a beta of 1.22.

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

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.01%. General Electric’s payout ratio is 118.52%.

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Several equities analysts have recently issued reports on GE shares. UBS AG restated a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. restated a “buy” rating and set a $34.00 target price (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Finally, Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price for the company in a research report on Wednesday, June 7th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.42.

In related news, Director James S. Tisch bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by insiders.

General Electric Company Profile

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

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