Calvert Investment Management Inc. decreased its stake in General Electric Co. (NYSE:GE) by 28.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 726,296 shares of the company’s stock after selling 291,949 shares during the period. General Electric comprises 1.2% of Calvert Investment Management Inc.’s portfolio, making the stock its 11th largest position. Calvert Investment Management Inc.’s holdings in General Electric were worth $22,864,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of GE. Rockefeller Financial Services Inc. boosted its stake in shares of General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock valued at $10,019,000 after buying an additional 20,893 shares during the period. Appleton Partners Inc. MA boosted its stake in shares of General Electric by 3.1% in the second quarter. Appleton Partners Inc. MA now owns 265,352 shares of the company’s stock worth $8,353,000 after buying an additional 7,908 shares during the last quarter. Charter Trust Co. boosted its stake in shares of General Electric by 1.5% in the second quarter. Charter Trust Co. now owns 1,235,479 shares of the company’s stock worth $38,893,000 after buying an additional 18,811 shares during the last quarter. GWM Advisors LLC boosted its stake in shares of General Electric by 506.3% in the second quarter. GWM Advisors LLC now owns 50,829 shares of the company’s stock worth $1,595,000 after buying an additional 42,445 shares during the last quarter. Finally, Abner Herrman & Brock LLC boosted its stake in shares of General Electric by 9.0% in the second quarter. Abner Herrman & Brock LLC now owns 354,721 shares of the company’s stock worth $11,426,000 after buying an additional 29,308 shares during the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Co. (NYSE:GE) traded down 0.7620% during trading on Thursday, hitting $29.2752. 16,520,641 shares of the stock traded hands. The company has a 50-day moving average price of $30.44 and a 200-day moving average price of $30.79. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00. The stock has a market cap of $262.34 billion, a PE ratio of 24.7466 and a beta of 1.15.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. Equities research analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The company 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 3.12%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
Several research firms have weighed in on GE. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 price target on the stock in a report on Thursday, July 21st. Standpoint Research began coverage on shares of General Electric in a report on Friday, July 22nd. They issued a “sell” rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $36.00 price target on shares of General Electric in a report on Monday, July 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average price target of $32.60.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.
About General Electric
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