Hermes Investment Management Ltd. Has $55.67 Million Stake in General Electric Company (GE)

Hermes Investment Management Ltd. lowered its stake in shares of General Electric Company (NYSE:GE) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,060,962 shares of the conglomerate’s stock after selling 225,644 shares during the quarter. Hermes Investment Management Ltd.’s holdings in General Electric were worth $55,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smithbridge Asset Management Inc. DE increased its position in shares of General Electric by 47.2% during the 2nd quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after purchasing an additional 10,025 shares during the last quarter. Sabal Trust CO increased its position in shares of General Electric by 5.4% during the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after purchasing an additional 55,049 shares during the last quarter. Rothschild Investment Corp IL increased its position in shares of General Electric by 2.4% during the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after purchasing an additional 10,906 shares during the last quarter. Rathbone Brothers plc increased its position in shares of General Electric by 0.5% during the 1st quarter. Rathbone Brothers plc now owns 1,326,585 shares of the conglomerate’s stock valued at $39,532,000 after purchasing an additional 7,249 shares during the last quarter. Finally, Windsor Financial Group LLC increased its position in shares of General Electric by 497.6% during the 1st quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after purchasing an additional 130,275 shares during the last quarter. 54.78% of the stock is currently owned by hedge funds and other institutional investors.

GE has been the topic of several analyst reports. Deutsche Bank AG set a $24.00 target price on General Electric and gave the company a “sell” rating in a research report on Saturday, May 20th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research report on Tuesday, July 4th. Morgan Stanley reissued an “equal weight” rating and set a $26.00 target price (down previously from $27.00) on shares of General Electric in a research report on Monday, July 24th. BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 28th. Finally, J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $30.08.

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In related news, CEO John Leonard Flannery bought 103,983 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander Dimitrief bought 1,845 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were bought at an average cost of $25.54 per share, with a total value of $47,121.30. Following the completion of the purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. Insiders bought 233,253 shares of company stock valued at $5,860,264 over the last ninety days. Insiders own 0.36% of the company’s stock.

Shares of General Electric Company (NYSE GE) traded down 0.83% during midday trading on Friday, hitting $23.82. The company had a trading volume of 44,604,454 shares. General Electric Company has a 12 month low of $23.58 and a 12 month high of $32.38. The firm has a market capitalization of $206.23 billion, a PE ratio of 29.01 and a beta of 1.22. The company has a 50-day moving average of $25.05 and a 200 day moving average of $27.80.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect 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. Stockholders of record on Monday, September 18th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.03%. General Electric’s payout ratio is presently 118.52%.

General Electric Company Profile

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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