Abner Herrman & Brock LLC raised its stake in shares of General Electric Company (NYSE:GE) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 411,003 shares of the conglomerate’s stock after buying an additional 16,648 shares during the period. General Electric makes up 2.4% of Abner Herrman & Brock LLC’s portfolio, making the stock its 12th largest position. Abner Herrman & Brock LLC’s holdings in General Electric were worth $12,248,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Jarislowsky Fraser Ltd increased its stake in shares of General Electric by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock worth $128,787,000 after buying an additional 211,742 shares during the last quarter. Discovery Capital Management LLC CT bought a new position in General Electric during the fourth quarter valued at $29,719,000. Roundview Capital LLC boosted its position in General Electric by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock valued at $2,417,000 after buying an additional 1,515 shares during the period. AE Wealth Management LLC bought a new position in General Electric during the fourth quarter valued at $2,092,000. Finally, Banco Santander S.A. acquired a new position in shares of General Electric during the fourth quarter worth approximately $13,259,000. 54.29% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (GE) traded down 0.27% during midday trading on Tuesday, hitting $25.56. The company’s stock had a trading volume of 26,994,946 shares. The company has a market cap of $221.30 billion, a price-to-earnings ratio of 31.13 and a beta of 1.21. General Electric Company has a one year low of $25.26 and a one year high of $32.38. The company’s 50-day moving average is $26.94 and its 200 day moving average is $28.78.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The business 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 company’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.51 earnings per share. On average, analysts predict that General Electric Company will post $1.57 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.
Several equities analysts have commented on the company. Deutsche Bank AG set a $24.00 price objective on General Electric and gave the company a “sell” rating in a research report on Saturday, May 20th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and set a $26.00 price objective (down previously from $27.00) on shares of General Electric in a research report on Monday, July 24th. Stifel Nicolaus raised their price objective on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada lowered their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Four equities 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. The company currently has a consensus rating of “Hold” and an average target price of $30.08.
In other General Electric news, Director James E. Rohr acquired 27,425 shares of the company’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $25.50 per share, with a total value of $699,337.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction 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 acquisition, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 149,270 shares of company stock worth $4,113,059. 0.36% of the stock is owned by corporate insiders.
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