Buffington Mohr McNeal cut its position in shares of General Electric Co. (NYSE:GE) by 23.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,961 shares of the company’s stock after selling 26,015 shares during the period. General Electric accounts for 1.2% of Buffington Mohr McNeal’s investment portfolio, making the stock its 21st largest position. Buffington Mohr McNeal’s holdings in General Electric were worth $2,675,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Catamount Wealth Management boosted its stake in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the period. James Investment Research Inc. boosted its stake in General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Cranbrook Wealth Management LLC boosted its stake in General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock worth $188,000 after buying an additional 1,000 shares during the period. Barry Investment Advisors LLC boosted its stake in General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Finally, Northwest Investment Counselors LLC boosted its stake in General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock worth $216,000 after buying an additional 182 shares during the period. Institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.45% during mid-day trading on Thursday, hitting $28.77. The stock had a trading volume of 11,238,688 shares. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The firm’s 50-day moving average is $30.11 and its 200 day moving average is $30.72. The stock has a market cap of $257.81 billion, a PE ratio of 24.32 and a beta of 1.15.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter last year, the business earned $0.31 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
A number of analysts have recently commented on GE shares. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 target price on the stock in a research report on Thursday, July 7th. Credit Suisse Group AG reiterated an “outperform” rating and set a $34.00 target price on shares of General Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $26.00 target price on shares of General Electric in a research report on Thursday, August 11th. Bank of America Corp. restated a “buy” rating and issued a $37.00 price target on shares of General Electric in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.79.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.
About General Electric
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