Summit Financial Strategies Inc. boosted its stake in shares of General Electric Company (NYSE:GE) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,137 shares of the conglomerate’s stock after acquiring an additional 369 shares during the period. Summit Financial Strategies Inc.’s holdings in General Electric were worth $220,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Harris Associates L P increased its stake in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after purchasing an additional 9,681,420 shares during the last quarter. UBS Oconnor LLC increased its stake in shares of General Electric by 795.5% in the 1st quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after purchasing an additional 1,798,877 shares during the last quarter. Nationwide Fund Advisors increased its stake in shares of General Electric by 41.6% in the 1st quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after purchasing an additional 1,591,790 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of General Electric by 134.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock valued at $64,118,000 after purchasing an additional 1,234,776 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of General Electric by 17.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,072,829 shares of the conglomerate’s stock valued at $218,059,000 after purchasing an additional 1,222,434 shares during the last quarter. Hedge funds and other institutional investors own 54.38% of the company’s stock.
In other news, Director James S. Tisch bought 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average cost of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.
General Electric Company (NYSE GE) opened at $20.49 on Friday. The stock has a market capitalization of $177,777.73, a PE ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric Company has a 52 week low of $19.63 and a 52 week high of $32.38.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts predict that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date was Friday, September 15th. General Electric’s payout ratio is 120.00%.
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Several equities research analysts recently weighed in on the company. Cowen and Company reissued a “hold” rating and set a $19.00 price objective on shares of General Electric in a report on Wednesday. Vetr downgraded General Electric from a “hold” rating to a “sell” rating and set a $23.72 price objective on the stock. in a report on Monday, September 25th. J P Morgan Chase & Co set a $17.00 price objective on General Electric and gave the company a “sell” rating in a report on Thursday. UBS AG reissued a “sell” rating and set a $18.00 price objective (down previously from $21.00) on shares of General Electric in a report on Monday, October 30th. Finally, Deutsche Bank AG set a $21.00 price objective on General Electric and gave the company a “sell” rating in a report on Monday, October 23rd. Six analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus target price of $25.55.
About General Electric
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