Investors Asset Management of Georgia Inc. GA ADV cut its position in shares of General Electric Co. (NYSE:GE) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 90,988 shares of the company’s stock after selling 250 shares during the period. General Electric comprises 2.2% of Investors Asset Management of Georgia Inc. GA ADV’s holdings, making the stock its 3rd largest position. Investors Asset Management of Georgia Inc. GA ADV’s holdings in General Electric were worth $2,864,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in GE. Lynch & Associates IN boosted its stake in shares of General Electric by 1.1% in the second quarter. Lynch & Associates IN now owns 241,275 shares of the company’s stock worth $7,595,000 after buying an additional 2,692 shares during the last quarter. Longer Investments Inc. boosted its stake in shares of General Electric by 18.8% in the second quarter. Longer Investments Inc. now owns 95,655 shares of the company’s stock worth $3,011,000 after buying an additional 15,105 shares during the last quarter. TNB Financial boosted its stake in shares of General Electric by 2.7% in the second quarter. TNB Financial now owns 417,957 shares of the company’s stock worth $13,153,000 after buying an additional 10,941 shares during the last quarter. First Quadrant L P CA boosted its stake in shares of General Electric by 27.2% in the second quarter. First Quadrant L P CA now owns 2,344,064 shares of the company’s stock worth $73,791,000 after buying an additional 501,098 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock worth $153,380,000 after buying an additional 3,626,125 shares during the last quarter. 55.81% of the stock is owned by hedge funds and other institutional investors.
General Electric Co. (NYSE:GE) traded up 0.30% during trading on Friday, reaching $29.62. 36,120,040 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $30.58 and its 200-day moving average price is $30.81. General Electric Co. has a 52 week low of $26.22 and a 52 week 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.
General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The firm had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’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, equities analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.11%. General Electric’s payout ratio is 77.97%.
A number of equities research analysts have recently commented on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, June 28th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price for the company. in a report on Tuesday, June 14th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a report on Wednesday, June 29th. Finally, William Blair set a $38.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $32.65.
In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were purchased 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 in the company, valued at $69,148,737.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.
About General Electric
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