Pflug Koory LLC cut its holdings in shares of General Electric (NYSE:GE) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,574 shares of the conglomerate’s stock after selling 4,345 shares during the period. Pflug Koory LLC’s holdings in General Electric were worth $1,077,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Ashburton Jersey Ltd acquired a new position in General Electric in the second quarter worth about $25,000. Arbor Wealth Management LLC acquired a new position in General Electric in the fourth quarter worth about $30,000. Manchester Financial Inc. acquired a new position in General Electric in the second quarter worth about $30,000. SevenBridge Financial Group LLC grew its stake in General Electric by 100.4% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 2,101 shares in the last quarter. Finally, Executive Wealth Management LLC acquired a new position in General Electric in the fourth quarter worth about $36,000. Institutional investors own 57.49% of the company’s stock.
A number of equities analysts recently commented on the company. ValuEngine downgraded General Electric from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $13.00 to $11.50 in a research note on Monday, July 15th. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research note on Wednesday, July 31st. Finally, Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $11.68.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. General Electric’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts predict that General Electric will post 0.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were issued a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.46%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other General Electric news, Director Thomas W. Horton purchased 55,248 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $9.02 per share, with a total value of $498,336.96. Following the completion of the acquisition, the director now owns 55,248 shares in the company, valued at approximately $498,336.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 749,732 shares of company stock worth $6,536,708. Corporate insiders own 1.13% of the company’s stock.
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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