Hartford Investment Management Co. cut its position in shares of General Electric Co. (NYSE:GE) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 2,271,655 shares of the company’s stock after selling 96,774 shares during the period. General Electric comprises 1.5% of Hartford Investment Management Co.’s portfolio, making the stock its 5th largest position. Hartford Investment Management Co.’s holdings in General Electric were worth $71,512,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Chelsea Counsel Co. boosted its position in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock worth $5,280,000 after buying an additional 2,700 shares during the last quarter. Catamount Wealth Management boosted 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 in the last quarter. Nexus Investment Management Inc. boosted its position in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock worth $21,762,000 after buying an additional 2,600 shares in the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock worth $3,522,000 after buying an additional 672 shares in the last quarter. Finally, First PREMIER Bank boosted its position in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock worth $2,332,000 after buying an additional 1,990 shares in the last quarter. 55.81% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Co. (NYSE:GE) traded up 0.30% during mid-day trading on Friday, hitting $29.62. 36,120,040 shares of the company traded hands. General Electric Co. has a one year low of $26.22 and a one year high of $33.00. The stock has a market capitalization of $265.43 billion, a price-to-earnings ratio of 25.04 and a beta of 1.11. The firm has a 50-day moving average of $30.58 and a 200-day moving average of $30.81.
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, topping the Thomson Reuters’ 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 period in the prior year, the firm earned $0.31 earnings per share. On average, equities analysts predict that General Electric Co. will post $1.50 earnings per share for the current year.
The business 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 3.11%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is presently 77.97%.
A number of equities analysts have recently weighed in on GE shares. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $30.93 price target on the stock in a research report on Thursday, July 7th. Cowen and Company started coverage on shares of General Electric in a research report on Tuesday, June 7th. They set a “market perform” rating and a $29.00 price target on the stock. Credit Suisse Group AG reissued an “outperform” rating and set a $34.00 price target on shares of General Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $26.00 price target on shares of General Electric in a research report on Thursday, August 11th. Finally, Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus target price of $32.65.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the purchase, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.
General Electric Company Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Co. (NYSE:GE).
Receive News & Ratings for General Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.