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.
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
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