Meridian Investment Counsel Inc. increased its holdings in shares of General Electric Company (NYSE:GE) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,895 shares of the conglomerate’s stock after acquiring an additional 218 shares during the quarter. General Electric makes up approximately 1.2% of Meridian Investment Counsel Inc.’s holdings, making the stock its 21st biggest holding. Meridian Investment Counsel Inc.’s holdings in General Electric were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Feltz Wealth PLAN Inc. acquired a new stake in General Electric during the first quarter worth about $114,000. Cable Hill Partners LLC raised its stake in General Electric by 12.5% during the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after acquiring an additional 780 shares during the period. Parametrica Management Ltd acquired a new stake in General Electric during the first quarter worth about $214,000. Hays Advisory LLC raised its stake in General Electric by 12.2% during the first quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock worth $222,000 after acquiring an additional 810 shares during the period. Finally, Portfolio Solutions LLC raised its stake in General Electric by 5.0% during the first quarter. Portfolio Solutions LLC now owns 7,558 shares of the conglomerate’s stock worth $225,000 after acquiring an additional 362 shares during the period. Hedge funds and other institutional investors own 54.78% of the company’s stock.
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Shares of General Electric Company (GE) traded down 0.37% during mid-day trading on Friday, reaching $23.93. 66,559,977 shares of the company were exchanged. General Electric Company has a 12 month low of $23.58 and a 12 month high of $32.38. The stock has a market capitalization of $207.18 billion, a P/E ratio of 29.15 and a beta of 1.22. The firm has a 50-day moving average price of $24.82 and a 200 day moving average price of $27.58.
General Electric (NYSE:GE) last issued 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 company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. General Electric’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 EPS. Equities research analysts anticipate that General Electric Company will post $1.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is currently 118.52%.
In other news, CEO John Leonard Flannery acquired 103,983 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James S. Tisch acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased 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 90 days, insiders have purchased 233,253 shares of company stock valued at $5,860,264. Corporate insiders own 0.36% of the company’s stock.
GE has been the subject of several recent analyst reports. BidaskClub upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 17th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 target price for the company. in a research report on Monday, June 19th. Bank of America Corporation restated a “neutral” rating and issued a $31.00 target price on shares of General Electric in a research report on Tuesday, June 13th. Cowen and Company restated a “market perform” rating and issued a $30.00 target price on shares of General Electric in a research report on Tuesday, June 13th. Finally, CIBC restated a “market perform” rating on shares of General Electric in a research report on Wednesday, June 14th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average price target of $29.42.
General Electric Profile
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