Texan Capital Management raised its position in General Electric Company (NYSE:GE) by 20.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 126,605 shares of the conglomerate’s stock after buying an additional 21,568 shares during the quarter. General Electric comprises about 2.3% of Texan Capital Management’s holdings, making the stock its 9th largest position. Texan Capital Management’s holdings in General Electric were worth $3,420,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new stake in shares of General Electric during the 1st quarter worth $106,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of General Electric during the 1st quarter worth $114,000. PHH Investments Ltd. boosted its position in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of General Electric during the 1st quarter worth $214,000. Finally, Barber Financial Group Inc. boosted its position 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 in the last quarter. 54.69% of the stock is currently owned by institutional investors.
Several brokerages have commented on GE. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Morgan Stanley restated an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. Vetr lowered shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 target price on the stock. in a research report on Monday, June 19th. CIBC restated a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus target price of $28.28.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was purchased 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 approximately $1,675,347.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following 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. Insiders have acquired a total of 233,253 shares of company stock valued at $5,860,264 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Shares of General Electric Company (NYSE GE) traded down 1.691% on Wednesday, reaching $22.965. 46,159,463 shares of the company traded hands. The company has a market capitalization of $1.56 billion, a PE ratio of 21.264 and a beta of 1.19. General Electric Company has a 52-week low of $22.90 and a 52-week high of $32.38. The firm has a 50-day moving average of $24.37 and a 200-day moving average of $26.88.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Zacks’ 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 quarter last year, the company posted $0.51 EPS. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts forecast that General Electric Company will post $1.54 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders 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 dividend on an annualized basis and a yield of 4.11%. General Electric’s payout ratio is presently 118.52%.
General Electric Profile
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.