Shelter Mutual Insurance Co decreased its position in shares of General Electric (NYSE:GE) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,520 shares of the conglomerate’s stock after selling 25,470 shares during the period. Shelter Mutual Insurance Co’s holdings in General Electric were worth $2,788,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Resource Management LLC lifted its position in General Electric by 22.4% during the 2nd quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock worth $802,000 after acquiring an additional 13,977 shares during the period. Bellecapital International Ltd. increased its position in shares of General Electric by 166.4% during the second quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock worth $514,000 after acquiring an additional 30,600 shares during the last quarter. Cornell Pochily Investment Advisors Inc. increased its position in shares of General Electric by 114.2% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock worth $246,000 after acquiring an additional 17,317 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in General Electric by 6.3% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after buying an additional 88,000 shares during the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in General Electric by 13.5% in the second quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after buying an additional 14,033 shares during the last quarter. 57.49% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the transaction, the director now directly owns 25,000 shares in the company, valued at $250,500. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 492,532 shares of company stock worth $4,491,512. Company insiders own 1.13% of the company’s stock.
Shares of NYSE:GE traded down $1.16 on Thursday, reaching $7.87. 225,060,643 shares of the company traded hands, compared to its average volume of 61,059,360. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $13.78. The firm has a 50 day simple moving average of $10.13. The stock has a market cap of $78.98 billion, a PE ratio of 12.11, a PEG ratio of 1.96 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the previous year, the business earned $0.19 EPS. The company’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts forecast that General Electric will post 0.64 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
Several research firms have recently commented on GE. Cowen reaffirmed a “hold” rating and set a $8.00 target price on shares of General Electric in a report on Wednesday, May 1st. Citigroup set a $14.00 target price on General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $11.50 in a report on Monday, July 15th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Wednesday, July 31st. Finally, Deutsche Bank set a $10.00 price objective on General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $11.68.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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