Lau Associates LLC Sells 5,680 Shares of General Electric Company (GE)

Lau Associates LLC lowered its stake in General Electric Company (NYSE:GE) by 8.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,629 shares of the conglomerate’s stock after selling 5,680 shares during the quarter. General Electric comprises 1.4% of Lau Associates LLC’s portfolio, making the stock its 18th largest position. Lau Associates LLC’s holdings in General Electric were worth $1,773,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Insight 2811 Inc. grew its stake in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock valued at $1,126,000 after buying an additional 118 shares in the last quarter. Blue Fin Capital Inc. grew its stake in shares of General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock valued at $1,668,000 after buying an additional 158 shares in the last quarter. Huntington Steele LLC grew its stake in shares of General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock valued at $495,000 after buying an additional 165 shares in the last quarter. Commonwealth Financial Services LLC grew its stake in shares of General Electric by 0.9% in the first quarter. Commonwealth Financial Services LLC now owns 23,035 shares of the conglomerate’s stock valued at $690,000 after buying an additional 203 shares in the last quarter. Finally, Meridian Investment Counsel Inc. grew its stake in shares of General Electric by 0.3% in the first quarter. Meridian Investment Counsel Inc. now owns 65,895 shares of the conglomerate’s stock valued at $1,964,000 after buying an additional 218 shares in the last quarter. Institutional investors and hedge funds own 54.78% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $31.00 target price on shares of General Electric in a research note on Friday. Finally, Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $30.48 target price for the company in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus price target of $29.42.

In other news, insider Alexander Dimitrief purchased 1,845 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James E. Rohr purchased 27,425 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders have purchased 233,253 shares of company stock worth $5,860,264 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

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

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Analysts predict that General Electric Company will post $1.56 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 4.01%. General Electric’s dividend payout ratio is 118.52%.

General Electric Profile

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

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