Baldwin Brothers Inc. MA Sells 23,430 Shares of General Electric Company (NYSE:GE)

Baldwin Brothers Inc. MA trimmed its position in General Electric Company (NYSE:GE) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 515,365 shares of the conglomerate’s stock after selling 23,430 shares during the quarter. General Electric makes up 2.2% of Baldwin Brothers Inc. MA’s holdings, making the stock its 11th largest position. Baldwin Brothers Inc. MA’s holdings in General Electric were worth $13,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Harris Associates L P raised its holdings in General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after acquiring an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in General Electric by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after acquiring an additional 776,656 shares during the period. Bank of Montreal Can raised its holdings in General Electric by 11.0% in the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after acquiring an additional 1,005,937 shares during the period. State of Wisconsin Investment Board raised its holdings in General Electric by 14.5% in the 1st quarter. State of Wisconsin Investment Board now owns 8,450,202 shares of the conglomerate’s stock valued at $251,816,000 after acquiring an additional 1,067,235 shares during the period. Finally, National Pension Service raised its holdings in General Electric by 9.3% in the 2nd quarter. National Pension Service now owns 6,385,937 shares of the conglomerate’s stock valued at $172,548,000 after acquiring an additional 542,249 shares during the period. 54.67% of the stock is currently owned by institutional investors.

In related news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the sale, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alexander Dimitrief bought 1,845 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the transaction, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 233,253 shares of company stock worth $5,860,264. Corporate insiders own 0.36% of the company’s stock.

A number of research analysts have issued reports on the stock. 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. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price target on shares of General Electric in a research report on Friday, September 15th. Vetr upgraded shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price target on the stock in a research report on Monday, October 2nd. Finally, Deutsche Bank AG reiterated a “sell” rating and set a $21.00 price target (down previously from $24.00) on shares of General Electric in a research report on Monday, September 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.93.

Shares of General Electric Company (NYSE GE) traded down 1.11% during mid-day trading on Tuesday, reaching $23.10. 26,555,287 shares of the company’s stock traded hands. General Electric Company has a 12-month low of $22.83 and a 12-month high of $32.38. The firm’s 50 day moving average price is $24.25 and its 200-day moving average price is $26.74. The stock has a market cap of $200.00 billion, a price-to-earnings ratio of 28.14 and a beta of 1.19.

General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. Equities research analysts forecast that General Electric Company will post $1.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.11%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.

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General Electric Company Profile

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

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