Glenmede Trust Co. NA boosted its position in General Electric Co. (NYSE:GE) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,979,937 shares of the company’s stock after buying an additional 21,939 shares during the period. General Electric makes up 0.6% of Glenmede Trust Co. NA’s holdings, making the stock its 25th largest position. Glenmede Trust Co. NA’s holdings in General Electric were worth $93,807,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Chelsea Counsel Co. boosted its position in 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 period. Catamount Wealth Management boosted its position in 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 during the period. Nexus Investment Management Inc. boosted its position in 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 during the period. Kistler Tiffany Companies LLC boosted its position in 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 during the period. Finally, First PREMIER Bank boosted its position in 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 during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded up 0.433% during trading on Tuesday, hitting $28.975. 4,067,194 shares of the stock were exchanged. The firm has a market capitalization of $259.65 billion, a price-to-earnings ratio of 24.493 and a beta of 1.15. The stock’s 50 day moving average price is $29.91 and its 200 day moving average price is $30.65. General Electric Co. has a 52 week low of $27.10 and a 52 week high of $33.00.
General Electric (NYSE:GE) last posted 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. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities analysts predict that General Electric Co. will post $1.50 earnings per share for the current year.
The company 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 $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is presently 77.97%.
Several equities analysts have recently weighed in on GE shares. Royal Bank Of Canada restated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a report on Monday, June 27th. Credit Suisse Group AG restated an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a report on Monday, June 27th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $34.00 price objective on shares of General Electric in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $32.70.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.
General Electric Company Profile
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