Mcrae Capital Management Inc. lifted its holdings in shares of General Electric Company (NYSE:GE) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 255,864 shares of the conglomerate’s stock after buying an additional 6,825 shares during the period. General Electric comprises 2.8% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Mcrae Capital Management Inc.’s holdings in General Electric were worth $6,911,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ullmann Financial Group Inc. purchased a new position in shares of General Electric during the 1st quarter worth approximately $106,000. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the 1st quarter worth approximately $114,000. PHH Investments Ltd. raised its stake in shares of General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares in the last quarter. Oakmont Partners LLC raised its stake in shares of General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after buying an additional 278 shares in the last quarter. Finally, Cascade Investment Advisors Inc. raised its stake in shares of General Electric by 25.2% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock worth $218,000 after buying an additional 1,625 shares in the last quarter. 54.67% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric Company (GE) opened at 23.83 on Friday. General Electric Company has a 12-month low of $22.10 and a 12-month high of $32.38. The stock’s 50 day moving average price is $24.11 and its 200 day moving average price is $26.55. The firm has a market cap of $206.32 billion, a PE ratio of 29.03 and a beta of 1.19.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period last year, the firm earned $0.32 earnings per share. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that General Electric Company will post $1.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.03%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 120.00%.
In other news, Director James E. Rohr bought 27,425 shares of the business’s stock in a transaction on Monday, July 24th. The shares were bought at an average cost of $25.50 per share, with a total value of $699,337.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the purchase, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 233,253 shares of company stock worth $5,860,264. Company insiders own 0.36% of the company’s stock.
Several research firms recently weighed in on GE. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a research note on Tuesday, July 4th. Citigroup Inc. reaffirmed a “buy” rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a research note on Monday, July 10th. Stifel Nicolaus dropped their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. UBS AG reaffirmed a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price objective on shares of General Electric in a research note on Friday, September 15th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $27.93.
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