Gilbert & Cook Inc. Acquires New Holdings in General Electric Company (GE)

Gilbert & Cook Inc. acquired a new position in General Electric Company (NYSE:GE) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,268 shares of the conglomerate’s stock, valued at approximately $385,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BerganKDV Wealth Management LLC grew its holdings in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after purchasing an additional 36 shares during the period. Insight 2811 Inc. grew its holdings in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after purchasing an additional 118 shares during the period. Blue Fin Capital Inc. grew its holdings in General Electric by 0.3% in the first quarter. Blue Fin Capital Inc. now owns 55,992 shares of the conglomerate’s stock worth $1,668,000 after purchasing an additional 158 shares during the period. Smith Shellnut Wilson LLC ADV grew its holdings in General Electric by 0.7% in the second quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate’s stock worth $711,000 after purchasing an additional 160 shares during the period. Finally, Huntington Steele LLC grew its holdings in General Electric by 1.0% in the first quarter. Huntington Steele LLC now owns 16,611 shares of the conglomerate’s stock worth $495,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 54.78% of the company’s stock.

Shares of General Electric Company (NYSE:GE) traded down 0.37% during midday trading on Friday, reaching $23.93. 66,559,977 shares of the company traded hands. General Electric Company has a 1-year low of $23.58 and a 1-year high of $32.38. The company has a 50 day moving average price of $24.82 and a 200 day moving average price of $27.58. The company has a market capitalization of $207.18 billion, a PE ratio of 29.15 and a beta of 1.22.

General Electric (NYSE:GE) last released its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. General Electric’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. On average, analysts expect that General Electric Company will post $1.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.

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In related news, Director James S. Tisch bought 100,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, for a total transaction of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by insiders.

A number of brokerages have weighed in on GE. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 price objective on shares of General Electric in a report on Friday. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price objective on the stock. in a report on Wednesday. Deutsche Bank AG restated a “sell” rating and issued a $21.00 price objective (down previously from $24.00) on shares of General Electric in a report on Monday, September 11th. J P Morgan Chase & Co restated an “underweight” rating and issued a $22.00 price objective on shares of General Electric in a report on Thursday, September 7th. Finally, Cowen and Company restated a “hold” rating and issued a $24.00 price objective on shares of General Electric in a report on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.42.

About General Electric

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

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