Columbia Asset Management reduced its stake in General Electric Company (NYSE:GE) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 258,725 shares of the conglomerate’s stock after selling 3,560 shares during the quarter. General Electric makes up approximately 2.6% of Columbia Asset Management’s investment portfolio, making the stock its 8th largest position. Columbia Asset Management’s holdings in General Electric were worth $7,710,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of GE. Auxier Asset Management grew its holdings in General Electric by 1.9% in the 4th quarter. Auxier Asset Management now owns 12,768 shares of the conglomerate’s stock valued at $403,000 after buying an additional 233 shares in the last quarter. Aspen Investment Management Inc grew its holdings in General Electric by 1.1% in the 4th quarter. Aspen Investment Management Inc now owns 62,531 shares of the conglomerate’s stock valued at $1,976,000 after buying an additional 700 shares in the last quarter. Pegasus Partners Ltd. grew its holdings in General Electric by 3.3% in the 4th quarter. Pegasus Partners Ltd. now owns 77,340 shares of the conglomerate’s stock valued at $2,444,000 after buying an additional 2,463 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of General Electric by 16.5% during the 4th quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after purchasing an additional 2,592,455 shares during the period. Finally, Kentucky Retirement Systems purchased a new position in shares of General Electric during the 4th quarter worth $20,285,000. Institutional investors own 54.71% of the company’s stock.
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In related news, insider Alexander Dimitrief bought 1,845 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were acquired 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. In the last quarter, insiders purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by corporate insiders.
GE has been the subject of a number of research analyst reports. UBS AG reiterated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a report on Monday, May 29th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a report on Friday, July 7th. Credit Suisse Group reiterated an “outperform” rating and set a $33.00 price target on shares of General Electric in a report on Saturday, July 22nd. Finally, Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research note on Wednesday, September 13th. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus target price of $28.98.
Shares of General Electric Company (NYSE:GE) opened at 24.87 on Friday. The firm has a market capitalization of $215.32 billion, a PE ratio of 30.29 and a beta of 1.22. The stock has a 50 day moving average price of $24.74 and a 200 day moving average price of $27.46. General Electric Company has a 12-month low of $23.58 and a 12-month high of $32.38.
General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Analysts predict that General Electric Company will post $1.56 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is presently 118.52%.
General Electric Company Profile
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