WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST lowered its stake in General Electric Co. (NYSE:GE) by 58.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,500,000 shares of the company’s stock after selling 10,500,000 shares during the period. General Electric makes up approximately 5.4% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s portfolio, making the stock its 9th largest position. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s holdings in General Electric were worth $236,100,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OLD Second National Bank of Aurora boosted its position in General Electric by 0.7% in the second quarter. OLD Second National Bank of Aurora now owns 115,495 shares of the company’s stock valued at $3,636,000 after buying an additional 827 shares in the last quarter. LS Investment Advisors LLC boosted its position in General Electric by 16.9% in the second quarter. LS Investment Advisors LLC now owns 325,078 shares of the company’s stock valued at $10,233,000 after buying an additional 46,946 shares in the last quarter. Atwood & Palmer Inc. boosted its position in General Electric by 3.2% in the second quarter. Atwood & Palmer Inc. now owns 459,701 shares of the company’s stock valued at $14,471,000 after buying an additional 14,375 shares in the last quarter. Jolley Asset Management LLC boosted its position in General Electric by 1.0% in the second quarter. Jolley Asset Management LLC now owns 138,319 shares of the company’s stock valued at $4,354,000 after buying an additional 1,307 shares in the last quarter. Finally, Commonwealth Financial Services LLC boosted its position in General Electric by 1.1% in the second quarter. Commonwealth Financial Services LLC now owns 11,240 shares of the company’s stock valued at $354,000 after buying an additional 120 shares in the last quarter. 55.81% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric Co. (NYSE:GE) traded down 0.07% during midday trading on Wednesday, reaching $28.90. The company’s stock had a trading volume of 22,754,503 shares. The stock has a market capitalization of $258.98 billion, a PE ratio of 24.43 and a beta of 1.15. The stock’s 50 day moving average is $30.18 and its 200 day moving average is $30.73. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last issued its quarterly earnings data 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 earned $33.49 million during 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 business’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, analysts forecast that General Electric Co. will post $1.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 annualized dividend and a dividend yield of 3.18%. General Electric’s dividend payout ratio is presently 77.97%.
Several research analysts have recently issued reports on the company. Stifel Nicolaus set a $31.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Wednesday. RBC Capital Markets set a $36.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Tuesday. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $32.35 target price for the company in a research report on Monday. Citigroup Inc. decreased their target price on General Electric from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Monday. Finally, Bank of America Corp. reissued a “buy” rating and issued a $37.00 target price on shares of General Electric in a research report on Thursday, October 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.79.
In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction dated Tuesday, July 26th. The stock was acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.
General Electric Company Profile
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