Eqis Capital Management Inc. raised its position in shares of General Electric Company (NYSE:GE) by 6.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,848 shares of the conglomerate’s stock after buying an additional 1,336 shares during the quarter. Eqis Capital Management Inc.’s holdings in General Electric were worth $617,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new position in General Electric during the first quarter valued at $106,000. Feltz Wealth PLAN Inc. purchased a new position in General Electric during the first quarter valued at $114,000. PHH Investments Ltd. lifted its position in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the period. Parametrica Management Ltd purchased a new position in General Electric during the first quarter valued at $214,000. Finally, Oakmont Partners LLC lifted its position in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after buying an additional 278 shares during the period. 54.69% of the stock is owned by institutional investors and hedge funds.
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Several equities analysts have commented on the company. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $29.97 price objective for the company. in a research report on Monday, June 19th. BidaskClub upgraded General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) set a $30.00 price target on General Electric and gave the company a “neutral” rating in a report on Thursday, June 22nd. J P Morgan Chase & Co restated an “underweight” rating and set a $22.00 price target (down from $27.00) on shares of General Electric in a report on Thursday, July 6th. Finally, Standpoint Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.16.
General Electric (NYSE:GE) last posted its 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 firm 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 last year, the company earned $0.51 earnings per share.
The business also recently announced 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 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.
In related news, Director James E. Rohr bought 27,425 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were purchased 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 can be accessed through the SEC website. Also, Director James S. Tisch bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by corporate insiders.
General Electric Profile
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