Hudson Valley Investment Advisors Inc. ADV reduced its position in shares of General Electric Company (NYSE:GE) by 7.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,599 shares of the conglomerate’s stock after selling 18,273 shares during the period. General Electric comprises about 1.7% of Hudson Valley Investment Advisors Inc. ADV’s holdings, making the stock its 11th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in General Electric were worth $6,066,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ullmann Financial Group Inc. bought a new stake in General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new stake in General Electric during the first quarter worth approximately $114,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Empirical Finance LLC bought a new stake in General Electric during the fourth quarter worth approximately $140,000. Finally, Northwest Quadrant Wealth Management LLC bought a new stake in General Electric during the fourth quarter worth approximately $177,000. 54.25% of the stock is owned by institutional investors.
General Electric Company (NYSE:GE) opened at 25.79 on Friday. The stock has a 50 day moving average of $27.16 and a 200 day moving average of $28.94. 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 $223.63 billion, a price-to-earnings ratio of 31.41 and a beta of 1.22.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.60%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. Analysts forecast that General Electric Company will post $1.60 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.72%. General Electric’s dividend payout ratio is currently 118.52%.
A number of analysts have recently commented on GE shares. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. UBS AG reissued a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research note on Tuesday. Citigroup Inc. reissued a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of General Electric in a research note on Monday, July 10th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price for the company. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.25.
In other news, Director James E. Rohr purchased 27,425 shares of the stock in a transaction dated Monday, July 24th. The stock was acquired at an average price of $25.50 per share, for a total transaction of $699,337.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey R. Immelt purchased 100,000 shares of the stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the transaction, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Insiders have bought 149,270 shares of company stock valued at $4,113,059 in the last 90 days. Insiders own 0.36% of the company’s stock.
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