Bowling Portfolio Management LLC Trims Holdings in General Electric Company (NYSE:GE)

Bowling Portfolio Management LLC decreased its holdings in General Electric Company (NYSE:GE) by 13.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,442 shares of the conglomerate’s stock after selling 16,894 shares during the quarter. Bowling Portfolio Management LLC’s holdings in General Electric were worth $2,875,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GE. First Command Financial Services Inc. increased its position in shares of General Electric by 0.4% during the 1st quarter. First Command Financial Services Inc. now owns 53,305 shares of the conglomerate’s stock worth $1,588,000 after purchasing an additional 229 shares in the last quarter. Torch Wealth Management LLC grew its holdings in General Electric by 3.0% during the 1st quarter. Torch Wealth Management LLC now owns 110,122 shares of the conglomerate’s stock worth $3,282,000 after acquiring an additional 3,249 shares during the last quarter. Cribstone Capital Management LLC grew its holdings in General Electric by 24.3% during the 1st quarter. Cribstone Capital Management LLC now owns 84,082 shares of the conglomerate’s stock worth $2,522,000 after acquiring an additional 16,435 shares during the last quarter. Graybill Bartz & Assoc Ltd. bought a new stake in General Electric during the 1st quarter worth about $3,593,000. Finally, Heritage Investors Management Corp grew its holdings in General Electric by 3.2% during the 1st quarter. Heritage Investors Management Corp now owns 672,033 shares of the conglomerate’s stock worth $20,027,000 after acquiring an additional 21,007 shares during the last quarter. Institutional investors own 54.61% of the company’s stock.

Shares of General Electric Company (NYSE GE) opened at 20.79 on Friday. The company has a market cap of $180.00 billion, a PE ratio of 25.32 and a beta of 1.19. General Electric Company has a 12 month low of $20.64 and a 12 month high of $32.38. The stock has a 50 day moving average of $23.88 and a 200-day moving average of $26.35.

General Electric (NYSE:GE) last issued its quarterly 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). The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.73% and a net margin of 6.08%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Equities analysts forecast that General Electric Company will post $1.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 120.00%.

A number of equities research analysts have commented on the stock. Oppenheimer Holdings, Inc. lowered shares of General Electric from a “market perform” rating to an “underperform” rating in a report on Tuesday. Stifel Nicolaus lowered shares of General Electric from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Tuesday. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 price objective on the stock in a report on Monday, October 23rd. Goldman Sachs Group, Inc. (The) set a $22.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a report on Monday, October 23rd. Finally, Royal Bank Of Canada set a $25.00 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $26.28.

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In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. Corporate insiders own 0.36% of the company’s stock.

General Electric Company Profile

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

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