Carlton Hofferkamp & Jenks Wealth Management LLC lowered its stake in shares of General Electric Company (NYSE:GE) by 0.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,732 shares of the conglomerate’s stock after selling 418 shares during the quarter. General Electric makes up approximately 1.5% of Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in General Electric were worth $2,261,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GE. Ullmann Financial Group Inc. acquired a new position in General Electric during the 1st quarter valued at about $106,000. Feltz Wealth PLAN Inc. acquired a new position in General Electric during the 1st quarter valued at about $114,000. PHH Investments Ltd. lifted its position in General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the period. Cable Hill Partners LLC lifted its position in General Electric by 12.5% during the 1st quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after purchasing an additional 780 shares during the period. Finally, Parametrica Management Ltd acquired a new position in General Electric during the 1st quarter valued at about $214,000. 54.71% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Company (GE) traded down 1.51% during trading on Tuesday, hitting $24.09. 17,387,936 shares of the stock traded hands. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38. The company has a 50-day moving average of $24.78 and a 200-day moving average of $27.50. The firm has a market cap of $208.57 billion, a P/E ratio of 29.34 and a beta of 1.22. General Electric also saw unusually large options trading on Monday. Stock investors acquired 40,129 call options on the company. This is an increase of 145% compared to the average volume of 16,397 call options.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. General Electric’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts forecast that General Electric Company will post $1.56 EPS for the current fiscal 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 given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Friday, September 15th. General Electric’s payout ratio is 118.52%.
A number of research firms have issued reports on GE. Vetr downgraded shares of General Electric from a “buy” rating to a “sell” rating and set a $23.72 target price on the stock. in a research report on Tuesday. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the company a “sell” rating in a research report on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. CIBC restated a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $28.98.
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In related news, CEO John Leonard Flannery purchased 103,983 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Insiders have bought 233,253 shares of company stock worth $5,860,264 over the last ninety days. 0.36% of the stock is owned by insiders.
About General Electric
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