Utah Retirement Systems reduced its stake in shares of General Electric Co. (NYSE:GE) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,686,336 shares of the company’s stock after selling 6,900 shares during the period. General Electric makes up approximately 1.4% of Utah Retirement Systems’ investment portfolio, making the stock its 5th largest position. Utah Retirement Systems’ holdings in General Electric were worth $53,085,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in GE. Catamount Wealth Management raised its stake in shares of 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. James Investment Research Inc. raised its stake in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock worth $188,000 after buying an additional 1,000 shares during the period. Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Finally, Northwest Investment Counselors LLC raised its stake 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 during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.218% on Wednesday, hitting $29.815. 18,164,059 shares of the stock traded hands. The stock has a 50-day moving average of $30.72 and a 200-day moving average of $30.83. The firm has a market cap of $267.18 billion, a price-to-earnings ratio of 25.203 and a beta of 1.11. General Electric Co. has a 12-month low of $24.69 and a 12-month high of $33.00.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The company earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. Analysts forecast that General Electric Co. will post $1.51 earnings per share for the current year.
The firm also recently announced 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 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is 77.97%.
GE has been the topic of a number of analyst reports. JPMorgan Chase & Co. set a $28.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Friday, September 23rd. Morgan Stanley set a $32.00 target price on shares of General Electric and gave the stock a “hold” rating in a research report on Wednesday, August 31st. Zacks Investment Research lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Wednesday, September 21st. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 target price on the stock in a research report on Monday, September 19th. Finally, Stifel Nicolaus set a $34.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $32.75.
In other General Electric news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares of the company’s stock, valued at approximately $69,148,737.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is currently owned by company insiders.
General Electric Company Profile
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