Park National Corp OH grew its holdings in shares of General Electric (NYSE:GE) by 19.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,903,454 shares of the conglomerate’s stock after purchasing an additional 309,755 shares during the period. Park National Corp OH’s holdings in General Electric were worth $19,986,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of GE. Cornell Pochily Investment Advisors Inc. lifted its holdings in shares of General Electric by 114.2% during the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock valued at $246,000 after purchasing an additional 17,317 shares in the last quarter. Financial Counselors Inc. grew its stake in General Electric by 34.1% in the 4th quarter. Financial Counselors Inc. now owns 505,364 shares of the conglomerate’s stock valued at $3,826,000 after buying an additional 128,550 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in General Electric by 6.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after buying an additional 88,000 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in General Electric in the 4th quarter valued at $238,000. Finally, Financial Gravity Companies Inc. bought a new stake in General Electric in the 4th quarter valued at $246,000. 57.85% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on GE shares. Deutsche Bank downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. UBS Group set a $115.00 target price on shares of Entergy and gave the stock a “buy” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. set a $60.00 target price on shares of Bayerische Motoren Werke and gave the stock a “sell” rating in a research note on Monday, April 8th. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, June 19th. Finally, Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average price target of $11.62.
In other news, Director Edward P. Garden sold 1,289,538 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.
GE stock traded up $0.44 on Tuesday, hitting $10.65. 74,268,930 shares of the company’s stock traded hands, compared to its average volume of 76,260,430. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The firm has a market cap of $87.56 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.28 and a beta of 1.03. The stock’s fifty day moving average is $10.27. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77.
General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $27.29 billion during the quarter, compared to the consensus estimate of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, equities analysts expect that General Electric will post 0.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Friday, June 28th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
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.
Featured Article: If I purchase shares through a brokerage account, am I the holder of record?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.