Joel Isaacson & Co. LLC boosted its stake in shares of General Electric Co. (NYSE:GE) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 141,774 shares of the company’s stock after buying an additional 8,330 shares during the period. General Electric makes up about 0.9% of Joel Isaacson & Co. LLC’s holdings, making the stock its 15th largest position. Joel Isaacson & Co. LLC’s holdings in General Electric were worth $4,463,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its stake in General Electric by 4.9% in the second quarter. Sigma Planning Corp now owns 212,112 shares of the company’s stock valued at $6,677,000 after buying an additional 9,814 shares during the last quarter. Mercer Capital Advisers Inc. increased its position in shares of General Electric by 12.0% in the second quarter. Mercer Capital Advisers Inc. now owns 26,249 shares of the company’s stock worth $826,000 after buying an additional 2,815 shares in the last quarter. United Bank Inc. increased its position in shares of General Electric by 24.5% in the second quarter. United Bank Inc. now owns 85,829 shares of the company’s stock worth $2,703,000 after buying an additional 16,908 shares in the last quarter. Independence Advisors LLC purchased a new position in shares of General Electric during the second quarter worth approximately $447,000. Finally, Northwest Investment Counselors LLC increased its position in shares of General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock worth $216,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.07% during midday trading on Wednesday, reaching $28.90. The company had a trading volume of 22,754,503 shares. The company’s 50 day moving average price is $30.18 and its 200 day moving average price is $30.73. General Electric Co. has a 52-week low of $27.10 and a 52-week high of $33.00. The stock has a market capitalization of $258.98 billion, a PE ratio of 24.43 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. Equities research analysts expect that General Electric Co. will post $1.50 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Thursday, September 15th. General Electric’s dividend payout ratio is currently 77.97%.
A number of equities analysts have commented on GE shares. Vetr upgraded shares of 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, June 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $34.00 target price on shares of General Electric in a report on Monday, June 27th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Citigroup Inc. reiterated a “buy” rating and issued a $36.00 target price on shares of General Electric in a report on Monday, July 25th. Finally, TheStreet upgraded shares of General Electric from a “hold” rating to a “buy” rating in a report on Friday, July 22nd. 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 assigned a strong buy rating to the company’s stock. General Electric has a consensus rating of “Buy” and an average price target of $32.79.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction on Tuesday, July 26th. The shares were bought at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by company insiders.
About General Electric
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