Shelter Mutual Insurance Co Has $2.79 Million Stock Holdings in General Electric (NYSE:GE)

Shelter Mutual Insurance Co lessened its holdings in General Electric (NYSE:GE) by 8.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 265,520 shares of the conglomerate’s stock after selling 25,470 shares during the quarter. Shelter Mutual Insurance Co’s holdings in General Electric were worth $2,788,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Resource Management LLC increased its holdings in shares of General Electric by 22.4% during the second quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock worth $802,000 after buying an additional 13,977 shares in the last quarter. Bellecapital International Ltd. increased its holdings in shares of General Electric by 166.4% during the second quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock worth $514,000 after buying an additional 30,600 shares in the last quarter. Cornell Pochily Investment Advisors Inc. increased its holdings in shares of General Electric by 114.2% during the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock worth $246,000 after buying an additional 17,317 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in shares of General Electric by 6.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock worth $9,764,000 after buying an additional 88,000 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its holdings in shares of General Electric by 13.5% during the second quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock worth $1,238,000 after buying an additional 14,033 shares in the last quarter. 57.49% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on the stock. Deutsche Bank set a $10.00 price objective on shares of General Electric and gave the stock a “hold” rating in a report on Thursday, May 2nd. William Blair reissued a “buy” rating on shares of General Electric in a report on Thursday, June 13th. JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. Finally, Cowen reissued a “hold” rating and issued a $8.00 price target on shares of General Electric in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus target price of $11.68.

In other General Electric news, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of General Electric stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider L Kevin Cox acquired 105,600 shares of General Electric stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $9.42 per share, for a total transaction of $994,752.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 492,532 shares of company stock worth $4,491,512. Insiders own 1.13% of the company’s stock.

GE stock traded down $1.16 during midday trading on Thursday, reaching $7.87. The company’s stock had a trading volume of 225,060,643 shares, compared to its average volume of 61,059,360. General Electric has a 52 week low of $6.66 and a 52 week high of $13.78. The stock has a market capitalization of $78.98 billion, a PE ratio of 12.11, a PEG ratio of 1.96 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. The stock’s 50-day moving average price is $10.13.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. During the same period last year, the firm earned $0.19 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts predict that General Electric will post 0.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.51%. General Electric’s payout ratio is presently 6.15%.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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