Cypress Asset Management Inc. TX lessened its holdings in shares of General Electric Company (NYSE:GE) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,119 shares of the conglomerate’s stock after selling 33,242 shares during the quarter. General Electric makes up 1.9% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 13th largest holding. Cypress Asset Management Inc. TX’s holdings in General Electric were worth $9,268,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Investment Partners Ltd. OH ADV grew its stake in shares of General Electric by 3.2% in the 2nd quarter. Investment Partners Ltd. OH ADV now owns 41,034 shares of the conglomerate’s stock valued at $1,108,000 after buying an additional 1,256 shares in the last quarter. Northwest Wealth Management LLC lifted its holdings in General Electric by 0.8% in the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 75 shares during the last quarter. Osborne Partners Capital Management LLC lifted its holdings in General Electric by 0.5% in the 2nd quarter. Osborne Partners Capital Management LLC now owns 507,366 shares of the conglomerate’s stock worth $13,704,000 after purchasing an additional 2,341 shares during the last quarter. Accurate Investment Solutions Inc. lifted its holdings in General Electric by 4.6% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 121,007 shares of the conglomerate’s stock worth $3,268,000 after purchasing an additional 5,297 shares during the last quarter. Finally, Gilbert & Cook Inc. acquired a new stake in General Electric in the 2nd quarter worth approximately $385,000. 54.71% of the stock is currently owned by institutional investors.
General Electric Company (NYSE GE) traded up 1.5621% during mid-day trading on Thursday, reaching $24.6999. The company had a trading volume of 23,610,981 shares. The company’s 50-day moving average is $24.74 and its 200-day moving average is $27.46. General Electric Company has a one year low of $23.58 and a one year high of $32.38. The stock has a market capitalization of $213.85 billion, a PE ratio of 30.0851 and a beta of 1.22. General Electric also was the target of some unusual options trading on Monday. Investors acquired 40,129 call options on the stock. This is an increase of 145% compared to the typical volume of 16,397 call options.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the company earned $0.51 earnings per share. General Electric’s revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that General Electric Company will post $1.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.95%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.
GE has been the subject of a number of research analyst reports. UBS AG reiterated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a report on Monday, May 29th. Citigroup Inc. reiterated a “buy” rating and set a $34.00 price target (down from $36.00) on shares of General Electric in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price target on shares of General Electric in a report on Friday, September 15th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a report on Friday, July 7th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $28.98.
In other news, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost 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 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 is available through this link. Also, Director James E. Rohr acquired 27,425 shares of General Electric stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by corporate insiders.
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