Mn Services Vermogensbeheer B.V. boosted its stake in shares of General Electric Company (NYSE:GE) by 503.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,425,912 shares of the conglomerate’s stock after purchasing an additional 1,189,475 shares during the period. General Electric makes up about 1.1% of Mn Services Vermogensbeheer B.V.’s portfolio, making the stock its 12th biggest position. Mn Services Vermogensbeheer B.V.’s holdings in General Electric were worth $38,514,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Ullmann Financial Group Inc. acquired a new stake in General Electric during the 1st quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. acquired a new stake in General Electric during the 1st quarter valued at approximately $114,000. PHH Investments Ltd. lifted its stake in General Electric by 105.0% during the 1st 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. Parametrica Management Ltd acquired a new stake in General Electric during the 1st quarter valued at approximately $214,000. Finally, Oakmont Partners LLC lifted its stake in General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after acquiring an additional 278 shares during the period. 54.69% of the stock is currently owned by institutional investors.
In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director James S. Tisch purchased 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was acquired 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. Insiders purchased a total of 233,253 shares of company stock valued at $5,860,264 in the last three months. 0.36% of the stock is currently owned by corporate insiders.
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Shares of General Electric Company (GE) traded down 0.35% during midday trading on Thursday, hitting $22.99. 37,423,839 shares of the company were exchanged. The stock has a market capitalization of $199.05 billion, a price-to-earnings ratio of 28.00 and a beta of 1.19. The company has a 50-day moving average price of $24.33 and a 200-day moving average price of $26.85. General Electric Company has a 52-week low of $22.83 and a 52-week 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 for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the previous year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts forecast that General Electric Company will post $1.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s payout ratio is 118.52%.
Several brokerages have commented on GE. Vetr upgraded shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price objective for the company in a research note on Monday, October 2nd. Cowen and Company restated a “hold” rating and set a $24.00 price objective on shares of General Electric in a research note on Monday, August 7th. J P Morgan Chase & Co restated an “underweight” rating and set a $20.00 price objective (down from $22.00) on shares of General Electric in a research note on Monday. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of General Electric in a research note on Thursday. Finally, Credit Suisse Group restated an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.16.
General Electric Company Profile
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