First National Bank of Mount Dora Trust Investment Services Continues to Hold Stake in General Electric Company (GE)

First National Bank of Mount Dora Trust Investment Services continued to hold its position in shares of General Electric Company (NYSE:GE) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,034 shares of the conglomerate’s stock at the end of the 2nd quarter. First National Bank of Mount Dora Trust Investment Services’ holdings in General Electric were worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Peachtree Investment Advisors Inc. boosted its position in shares of General Electric by 4.6% during the first quarter. Peachtree Investment Advisors Inc. now owns 38,712 shares of the conglomerate’s stock valued at $1,154,000 after purchasing an additional 1,700 shares in the last quarter. Rathbone Brothers plc boosted its position in shares of General Electric by 0.5% during the first 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 in the last quarter. Pure Financial Advisors Inc. boosted its position in shares of General Electric by 15.2% during the first quarter. Pure Financial Advisors Inc. now owns 8,004 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 1,055 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of General Electric by 5.3% during the first quarter. Confluence Investment Management LLC now owns 1,911,730 shares of the conglomerate’s stock valued at $56,970,000 after purchasing an additional 96,460 shares in the last quarter. Finally, West Oak Capital LLC boosted its position in shares of General Electric by 0.9% during the first quarter. West Oak Capital LLC now owns 65,797 shares of the conglomerate’s stock valued at $1,961,000 after purchasing an additional 572 shares in the last quarter. Institutional investors own 54.78% of the company’s stock.

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In related news, Director James S. Tisch bought 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Alexander Dimitrief bought 1,845 shares of the stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the acquisition, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 233,253 shares of company stock worth $5,860,264. Insiders own 0.36% of the company’s stock.

Shares of General Electric Company (NYSE:GE) traded down 0.37% during trading on Friday, reaching $23.93. The company had a trading volume of 66,559,977 shares. The company has a market capitalization of $207.18 billion, a PE ratio of 29.15 and a beta of 1.22. The stock’s 50-day moving average price is $24.82 and its 200-day moving average price is $27.58. General Electric Company has a 52 week low of $23.58 and a 52 week high of $32.38.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. General Electric’s revenue was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.56 EPS 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 issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is currently 118.52%.

Several equities research analysts recently weighed in on GE shares. TheStreet lowered General Electric from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the company a “sell” rating in a research report on Saturday, May 20th. Credit Suisse Group dropped their price target on General Electric from $33.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, June 1st. They noted that the move was a valuation call. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target on the stock in a research report on Wednesday, June 7th. Finally, Cowen and Company reiterated a “market perform” rating and set a $30.00 price objective on shares of General Electric in a research note on Tuesday, June 13th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $29.42.

General Electric Profile

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

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