TRUE Private Wealth Advisors raised its position in shares of General Electric Company (NYSE:GE) by 3.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 35,662 shares of the conglomerate’s stock after buying an additional 1,224 shares during the period. TRUE Private Wealth Advisors’ holdings in General Electric were worth $1,069,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of GE. Feltz Wealth PLAN Inc. acquired a new stake in General Electric during the first quarter worth approximately $114,000. Empirical Finance LLC acquired a new stake in General Electric during the fourth quarter worth approximately $140,000. Northwest Quadrant Wealth Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at about $177,000. Heritage Way Advisors LLC purchased a new stake in shares of General Electric during the fourth quarter valued at about $205,000. Finally, Total Investment Management Inc. purchased a new stake in shares of General Electric during the fourth quarter valued at about $206,000. 54.24% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (GE) traded down 2.92% during trading on Friday, hitting $25.91. The company had a trading volume of 90,649,890 shares. General Electric Company has a 52-week low of $25.26 and a 52-week high of $32.38. The firm’s 50 day moving average is $27.48 and its 200-day moving average is $29.14. The stock has a market capitalization of $225.00 billion, a price-to-earnings ratio of 26.38 and a beta of 1.22. General Electric also was the recipient of some unusual options trading activity on Thursday. Traders bought 35,785 put options on the company. This represents an increase of 143% compared to the typical daily volume of 14,713 put options.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 7.48% and a return on equity of 16.59%. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same period last year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.71%. General Electric’s payout ratio is currently 97.96%.
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Several equities research analysts have recently issued reports on GE shares. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a report on Monday, May 29th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price objective (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $28.47 price objective on the stock. in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Finally, Royal Bank Of Canada reduced their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus target price of $30.75.
In other General Electric news, Director William G. Beattie purchased 4,000 shares of General Electric stock in a transaction dated Wednesday, May 17th. The shares were bought at an average cost of $27.70 per share, for a total transaction of $110,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William G. Beattie purchased 16,000 shares of General Electric stock in a transaction dated Monday, May 15th. The stock was acquired at an average price of $28.05 per share, for a total transaction of $448,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 140,000 shares of company stock worth $3,964,600. Insiders own 0.36% of the company’s stock.
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