WealthTrust Arizona LLC decreased its stake in General Electric Company (NYSE:GE) by 11.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,003 shares of the conglomerate’s stock after selling 1,498 shares during the period. WealthTrust Arizona LLC’s holdings in General Electric were worth $358,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fusion Family Wealth LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $100,000. Empirical Finance LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $140,000. Turner Investments LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $161,000. Northwest Quadrant Wealth Management LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $177,000. Finally, Heritage Way Advisors LLC bought a new stake in shares of General Electric during the fourth quarter valued at approximately $205,000. Institutional investors own 54.25% of the company’s stock.
General Electric Company (GE) traded down 1.01% during midday trading on Friday, hitting $25.53. 28,286,777 shares of the stock were exchanged. The stock has a market cap of $221.37 billion, a PE ratio of 31.10 and a beta of 1.22. General Electric Company has a 1-year low of $25.26 and a 1-year high of $32.38. The company’s 50 day moving average is $27.10 and its 200-day moving average is $28.90.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.60%. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts expect that General Electric Company will post $1.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
A number of analysts have issued reports on the stock. William Blair reissued a “buy” rating on shares of General Electric in a report on Saturday, April 1st. J P Morgan Chase & Co set a $22.00 price objective on shares of General Electric and gave the company a “sell” rating in a report on Monday, July 24th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $29.71 price objective for the company. in a report on Monday, June 12th. Morgan Stanley reissued an “equal weight” rating and issued a $27.00 price objective on shares of General Electric in a report on Monday, July 17th. Finally, Stifel Nicolaus boosted their target price on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus price target of $30.25.
In related news, Director James E. Rohr acquired 27,425 shares of General Electric stock in a transaction on Monday, July 24th. The shares were acquired at an average cost of $25.50 per share, with a total value of $699,337.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey R. Immelt acquired 100,000 shares of General Electric stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $28.07 per share, for a total transaction of $2,807,000.00. Following the completion of the transaction, the chairman now owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 149,270 shares of company stock worth $4,113,059. 0.36% of the stock is owned by insiders.
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