Van Cleef Asset Management Inc reduced its stake in shares of General Electric (NYSE:GE) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,257 shares of the conglomerate’s stock after selling 6,500 shares during the period. Van Cleef Asset Management Inc’s holdings in General Electric were worth $601,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of GE. FMR LLC boosted its holdings in shares of General Electric by 49.4% during the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock worth $4,499,762,000 after purchasing an additional 148,979,851 shares during the last quarter. Norges Bank acquired a new position in General Electric in the fourth quarter valued at approximately $555,184,000. Renaissance Technologies LLC lifted its holdings in General Electric by 254.9% in the second quarter. Renaissance Technologies LLC now owns 53,270,354 shares of the conglomerate’s stock valued at $559,339,000 after acquiring an additional 38,260,700 shares during the last quarter. Harris Associates L P lifted its holdings in General Electric by 35.1% in the fourth quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after acquiring an additional 31,634,318 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in General Electric by 7.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock worth $755,819,000 after purchasing an additional 7,194,723 shares in the last quarter. Institutional investors and hedge funds own 59.32% of the company’s stock.
In other General Electric news, VP Thomas S. Timko bought 10,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was acquired at an average price of $8.83 per share, for a total transaction of $88,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders acquired 801,068 shares of company stock valued at $6,954,745 in the last 90 days. 1.13% of the stock is currently owned by insiders.
NYSE:GE traded up $0.08 during trading hours on Friday, hitting $9.34. The company’s stock had a trading volume of 1,304,182 shares, compared to its average volume of 96,344,560. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. General Electric has a 52-week low of $6.66 and a 52-week high of $13.78. The stock has a market capitalization of $79.77 billion, a P/E ratio of 14.38, a price-to-earnings-growth ratio of 2.04 and a beta of 1.09. The stock has a fifty day moving average of $9.06 and a 200-day moving average of $9.75.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter in the prior year, the firm posted $0.19 earnings per share. General Electric’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that General Electric will post 0.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s dividend payout ratio is presently 6.15%.
General Electric Company 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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