ELM Advisors LLC maintained its stake in shares of General Electric Company (NYSE:GE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,367 shares of the conglomerate’s stock at the end of the second quarter. ELM Advisors LLC’s holdings in General Electric were worth $550,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new stake in shares of General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new position in General Electric during the first quarter valued at about $114,000. PHH Investments Ltd. raised its position in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. Empirical Finance LLC bought a new position in General Electric during the fourth quarter valued at about $140,000. Finally, Northwest Quadrant Wealth Management LLC bought a new position in General Electric during the fourth quarter valued at about $177,000. Hedge funds and other institutional investors own 54.29% of the company’s stock.
General Electric Company (GE) opened at 25.56 on Wednesday. The firm has a 50-day moving average price of $26.68 and a 200-day moving average price of $28.71. General Electric Company has a one year low of $25.26 and a one year high of $32.38. The firm has a market capitalization of $221.30 billion, a price-to-earnings ratio of 31.13 and a beta of 1.21.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm 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 business’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. Analysts expect that General Electric Company will post $1.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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GE has been the subject of several analyst reports. UBS AG restated a “buy” rating and set a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. reiterated a “buy” rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective for the company. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.08.
In other General Electric 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 cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Beattie acquired 16,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was purchased at an average price of $28.05 per share, with a total value of $448,800.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 149,270 shares of company stock valued at $4,113,059. 0.36% of the stock is owned by company insiders.
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