General Electric Company (GE) Stake Maintained by VNBTrust National Association

VNBTrust National Association continued to hold its position in General Electric Company (NYSE:GE) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,923 shares of the conglomerate’s stock at the end of the 2nd quarter. General Electric accounts for approximately 0.5% of VNBTrust National Association’s holdings, making the stock its 27th largest holding. VNBTrust National Association’s holdings in General Electric were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Harris Associates L P raised its stake in shares of General Electric by 26.4% during the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after purchasing an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of General Electric by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after purchasing an additional 776,656 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of General Electric by 14.5% during the 1st quarter. State of Wisconsin Investment Board now owns 8,450,202 shares of the conglomerate’s stock worth $251,816,000 after purchasing an additional 1,067,235 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of General Electric by 10.8% during the 1st quarter. Thomaspartners Inc. now owns 5,853,522 shares of the conglomerate’s stock worth $174,435,000 after purchasing an additional 572,340 shares in the last quarter. Finally, Nationwide Fund Advisors raised its stake in shares of General Electric by 41.6% during the 1st quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock worth $161,524,000 after purchasing an additional 1,591,790 shares in the last quarter. 54.78% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: “General Electric Company (GE) Stake Maintained by VNBTrust National Association” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/09/15/general-electric-company-ge-stake-maintained-by-vnbtrust-national-association.html.

A number of research analysts recently weighed in on GE shares. Stifel Nicolaus reissued a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $28.93 price objective on the stock in a research note on Wednesday, June 7th. Citigroup Inc. reissued a “buy” rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. UBS AG reissued a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Finally, TheStreet downgraded General Electric from a “b-” rating to a “c” rating in a research note on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $29.65.

In other news, CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction dated Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James S. Tisch purchased 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by corporate insiders.

Shares of General Electric Company (GE) traded down 0.54% during mid-day trading on Friday, hitting $23.89. The stock had a trading volume of 27,569,351 shares. The stock has a market capitalization of $206.84 billion, a P/E ratio of 29.10 and a beta of 1.22. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38. The stock has a 50 day moving average of $24.87 and a 200-day moving average of $27.62.

General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, equities research analysts predict that General Electric Company will post $1.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.96%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.

General Electric Company Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply