Intrust Bank NA raised its stake in General Electric Co. (NYSE:GE) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,945 shares of the company’s stock after buying an additional 2,383 shares during the period. General Electric accounts for approximately 1.5% of Intrust Bank NA’s holdings, making the stock its 7th largest position. Intrust Bank NA’s holdings in General Electric were worth $3,650,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Kleinwort Benson Investors Dublin Ltd purchased a new stake in General Electric during the second quarter worth approximately $76,016,000. New Mexico Educational Retirement Board increased its stake in General Electric by 2.6% in the second quarter. New Mexico Educational Retirement Board now owns 1,071,572 shares of the company’s stock worth $33,733,000 after buying an additional 26,800 shares during the period. AMG National Trust Bank increased its stake in General Electric by 3.2% in the second quarter. AMG National Trust Bank now owns 216,117 shares of the company’s stock worth $6,803,000 after buying an additional 6,713 shares during the period. Front Barnett Associates LLC increased its stake in General Electric by 0.5% in the second quarter. Front Barnett Associates LLC now owns 81,672 shares of the company’s stock worth $2,571,000 after buying an additional 381 shares during the period. Finally, KBC Group NV increased its stake in General Electric by 21.5% in the second quarter. KBC Group NV now owns 2,456,501 shares of the company’s stock worth $77,330,000 after buying an additional 434,442 shares during the period. 55.81% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric Co. (NYSE:GE) traded down 0.50% during trading on Friday, hitting $29.89. The stock had a trading volume of 22,821,677 shares. General Electric Co. has a 12-month low of $24.26 and a 12-month high of $33.00. The stock’s 50 day moving average is $30.81 and its 200-day moving average is $30.83. The company has a market cap of $267.85 billion, a PE ratio of 25.27 and a beta of 1.11.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Analysts forecast that General Electric Co. will post $1.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.08%. General Electric’s dividend payout ratio is currently 77.97%.
A number of research firms recently commented on GE. JPMorgan Chase & Co. set a $28.00 target price on General Electric and gave the stock a “sell” rating in a report on Friday. Zacks Investment Research downgraded General Electric from a “buy” rating to a “hold” rating in a report on Wednesday. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $30.83 target price for the company in a report on Monday, September 19th. William Blair set a $38.00 target price on General Electric and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Stifel Nicolaus set a $34.00 target price on General Electric and gave the stock a “buy” rating in a report on Thursday, September 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $32.74.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.
About General Electric
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.