Granite Investment Advisors LLC lowered its stake in General Electric Company (NYSE:GE) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,659 shares of the conglomerate’s stock after selling 43,997 shares during the period. General Electric comprises 2.0% of Granite Investment Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Granite Investment Advisors LLC’s holdings in General Electric were worth $10,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of GE. Ullmann Financial Group Inc. acquired a new stake in General Electric in the 1st quarter valued at about $106,000. PHH Investments Ltd. raised its position in General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares in the last quarter. Oakmont Partners LLC raised its position in General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 278 shares in the last quarter. Cascade Investment Advisors Inc. raised its position in shares of General Electric by 25.2% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock worth $218,000 after acquiring an additional 1,625 shares in the last quarter. Finally, Barber Financial Group Inc. raised its position in shares of General Electric by 3.1% during the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after acquiring an additional 220 shares in the last quarter. 54.29% of the stock is currently owned by institutional investors.
In other General Electric news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased 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 Securities & Exchange Commission, which is available through this link. 0.36% of the stock is owned by insiders.
Several equities research analysts have recently weighed in on GE shares. Argus cut their target price on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. UBS AG reissued a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Stifel Nicolaus cut their target price on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.02.
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General Electric Company (GE) opened at $17.90 on Wednesday. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38. The firm has a market capitalization of $164,943.92, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities research analysts predict that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.36%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
General Electric Company Profile
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