Meristem LLP cut its position in shares of General Electric Co. (NYSE:GE) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,297 shares of the company’s stock after selling 1,401 shares during the period. General Electric accounts for approximately 1.2% of Meristem LLP’s investment portfolio, making the stock its 14th largest position. Meristem LLP’s holdings in General Electric were worth $2,654,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of GE. Rockefeller Financial Services Inc. raised its stake in General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock worth $10,019,000 after buying an additional 20,893 shares in the last quarter. Charter Trust Co. raised its stake in General Electric by 1.5% in the second quarter. Charter Trust Co. now owns 1,235,479 shares of the company’s stock worth $38,893,000 after buying an additional 18,811 shares in the last quarter. GWM Advisors LLC raised its stake in General Electric by 506.3% in the second quarter. GWM Advisors LLC now owns 50,829 shares of the company’s stock worth $1,595,000 after buying an additional 42,445 shares in the last quarter. Abner Herrman & Brock LLC raised its stake in General Electric by 9.0% in the second quarter. Abner Herrman & Brock LLC now owns 354,721 shares of the company’s stock worth $11,426,000 after buying an additional 29,308 shares in the last quarter. Finally, Bouchey Financial Group Ltd raised its stake in General Electric by 4.4% in the second quarter. Bouchey Financial Group Ltd now owns 154,815 shares of the company’s stock worth $4,874,000 after buying an additional 6,506 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 0.65% on Friday, reaching $29.08. 37,840,132 shares of the company were exchanged. General Electric Co. has a 12-month low of $27.10 and a 12-month high of $33.00. The company’s 50 day moving average is $30.31 and its 200 day moving average is $30.77. The firm has a market capitalization of $260.59 billion, a PE ratio of 24.58 and a beta of 1.15.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 9.14% and a return on equity of 15.04%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the company posted $0.31 earnings per share. Analysts forecast that General Electric Co. will post $1.50 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is 77.97%.
A number of research firms have commented on GE. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $31.67 target price for the company in a report on Thursday, July 21st. Standpoint Research began coverage on shares of General Electric in a report on Friday, July 22nd. They set a “sell” rating and a $26.00 target price for the company. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Finally, Citigroup Inc. reissued a “buy” rating and set a $36.00 price target on shares of General Electric in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $32.81.
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. 0.23% of the stock is currently owned by company insiders.
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.