John G Ullman & Associates Inc. trimmed its holdings in General Electric (NYSE:GE) by 3.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 225,054 shares of the conglomerate’s stock after selling 7,700 shares during the period. John G Ullman & Associates Inc.’s holdings in General Electric were worth $2,363,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ashburton Jersey Ltd acquired a new stake in General Electric during the second quarter worth about $25,000. Employers Holdings Inc. acquired a new stake in General Electric during the second quarter worth about $28,000. Arbor Wealth Management LLC acquired a new stake in General Electric during the fourth quarter worth about $30,000. Manchester Financial Inc. acquired a new stake in General Electric during the second quarter worth about $30,000. Finally, SevenBridge Financial Group LLC increased its position in General Electric by 100.4% during 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 during the last quarter. Institutional investors and hedge funds own 57.49% of the company’s stock.
Shares of GE traded up $0.78 during trading on Friday, reaching $8.79. 248,579,300 shares of the company traded hands, compared to its average volume of 64,566,920. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The stock has a market cap of $78.81 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.03. The stock has a 50-day simple moving average of $10.05 and a 200-day simple moving average of $9.97. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $28.83 billion during the quarter, compared to analysts’ expectations of $28.83 billion. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 0.64 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio is presently 6.15%.
In other news, Director Edward P. Garden sold 3,370,314 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last quarter, insiders have acquired 784,568 shares of company stock valued at $6,815,745. Company insiders own 1.13% of the company’s stock.
GE has been the subject of several recent analyst reports. Citigroup set a $14.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, June 19th. ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Friday. William Blair restated a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research report on Wednesday, July 31st. Finally, Deutsche Bank set a $10.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. General Electric presently has an average rating of “Hold” and an average target price of $11.68.
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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