Birmingham Capital Management Co. Inc. AL reduced its stake in General Electric (NYSE:GE) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 226,371 shares of the conglomerate’s stock after selling 15,700 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in General Electric were worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Gulf International Bank UK Ltd boosted its position in General Electric by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock worth $38,094,000 after buying an additional 67,257 shares during the period. Pure Financial Advisors Inc. acquired a new stake in General Electric during the 2nd quarter worth approximately $207,000. Filament LLC acquired a new stake in General Electric during the 2nd quarter worth approximately $154,000. Baldwin Investment Management LLC boosted its position in General Electric by 32.1% during the 1st quarter. Baldwin Investment Management LLC now owns 23,650 shares of the conglomerate’s stock worth $319,000 after buying an additional 5,750 shares during the period. Finally, Hollencrest Capital Management boosted its position in General Electric by 28.8% during the 2nd quarter. Hollencrest Capital Management now owns 183,613 shares of the conglomerate’s stock worth $2,499,000 after buying an additional 41,091 shares during the period. Institutional investors own 53.74% of the company’s stock.
Several equities research analysts recently commented on GE shares. JPMorgan Chase & Co. reiterated a “sell” rating and set a $11.00 target price on shares of General Electric in a research report on Thursday, August 9th. UBS Group cut their target price on shares of General Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 5th. Morningstar set a $15.70 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, August 13th. Citigroup reiterated a “buy” rating on shares of General Electric in a research report on Tuesday, May 22nd. Finally, Bank of America cut their target price on shares of General Electric from $17.00 to $16.00 and set a “hold” rating on the stock in a research report on Friday, July 27th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.99.
General Electric stock opened at $12.71 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51. General Electric has a 52-week low of $11.94 and a 52-week high of $25.21. The company has a market cap of $107.06 billion, a price-to-earnings ratio of 12.10, a PEG ratio of 2.34 and a beta of 0.96.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm had revenue of $30.10 billion during the quarter, compared to analyst estimates of $29.39 billion. During the same quarter last year, the business earned $0.21 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. analysts forecast that General Electric will post 0.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be paid a $0.12 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.78%. General Electric’s dividend payout ratio is currently 45.71%.
In related news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the stock in a transaction dated Tuesday, July 24th. The stock was bought at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.12% of the company’s stock.
General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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