Edgemoor Investment Advisors Inc. cut its position in General Electric Co. (NYSE:GE) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 678,619 shares of the company’s stock after selling 8,266 shares during the period. General Electric comprises 3.4% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 4th largest position. Edgemoor Investment Advisors Inc.’s holdings in General Electric were worth $21,361,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Catamount Wealth Management increased its position in shares of 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. increased its position in shares of 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 increased its position in shares of 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. Northwest Investment Counselors LLC increased its position in shares of 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. Finally, Barry Investment Advisors LLC increased its position in shares of 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. 55.81% of the stock is currently owned by institutional investors.
General Electric Co. (NYSE:GE) traded up 1.15% during mid-day trading on Tuesday, hitting $29.88. The stock had a trading volume of 24,767,222 shares. The stock has a market cap of $267.76 billion, a price-to-earnings ratio of 25.26 and a beta of 1.11. The stock’s 50-day moving average price is $30.76 and its 200-day moving average price is $30.84. General Electric Co. has a 12 month low of $24.26 and a 12 month high of $33.00.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, analysts predict that General Electric Co. will post $1.51 earnings per share 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
A number of brokerages recently weighed in on GE. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $30.93 price objective on the stock. in a research note on Tuesday, June 14th. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research note on Wednesday, June 29th. Finally, William Blair set a $38.00 price objective on General Electric and gave the company a “buy” rating in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. General Electric has an average rating of “Hold” and an average price target of $32.75.
In other General Electric 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 bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
General Electric Company Profile
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