Carl Domino Inc increased its stake in shares of General Electric Company (NYSE:GE) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,980 shares of the conglomerate’s stock after purchasing an additional 970 shares during the quarter. General Electric accounts for approximately 1.6% of Carl Domino Inc’s holdings, making the stock its 19th biggest position. Carl Domino Inc’s holdings in General Electric were worth $1,377,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ullmann Financial Group Inc. acquired a new stake in General Electric in the first quarter valued at $106,000. Feltz Wealth PLAN Inc. acquired a new stake in General Electric in the first quarter valued at $114,000. PHH Investments Ltd. lifted its holdings in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the period. Cable Hill Partners LLC lifted its holdings in General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after acquiring an additional 780 shares during the period. Finally, Parametrica Management Ltd acquired a new stake in General Electric in the first quarter valued at $214,000. 54.71% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Vetr downgraded General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a report on Monday. Cowen and Company reissued a “hold” rating and issued a $24.00 target price on shares of General Electric in a report on Monday, August 7th. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the company a “sell” rating in a report on Tuesday. Stifel Nicolaus reissued a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Finally, BidaskClub downgraded General Electric from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 28th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. General Electric presently has a consensus rating of “Hold” and an average price target of $28.98.
In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Rohr purchased 27,425 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders have bought 233,253 shares of company stock worth $5,860,264 over the last ninety days. 0.36% of the stock is owned by insiders.
General Electric Company (NYSE GE) traded up 0.48% during mid-day trading on Friday, reaching $24.87. The company had a trading volume of 39,717,546 shares. The firm has a market capitalization of $215.32 billion, a P/E ratio of 30.29 and a beta of 1.22. The stock’s 50-day moving average is $24.74 and its 200 day moving average is $27.46. General Electric Company has a 12 month low of $23.58 and a 12 month high of $32.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company 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%. General Electric’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, analysts predict that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
About General Electric
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