First Financial Corp IN lessened its stake in shares of General Electric (NYSE:GE) by 3.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,792 shares of the conglomerate’s stock after selling 1,247 shares during the quarter. First Financial Corp IN’s holdings in General Electric were worth $408,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of GE. CWH Capital Management Inc. acquired a new position in shares of General Electric during the fourth quarter worth approximately $5,932,000. Caption Management LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $568,000. Equitec Specialists LLC acquired a new position in shares of General Electric during the fourth quarter worth approximately $238,000. Foster & Motley Inc. boosted its position in shares of General Electric by 27.1% during the fourth quarter. Foster & Motley Inc. now owns 19,205 shares of the conglomerate’s stock worth $145,000 after buying an additional 4,092 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of General Electric by 10.1% during the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 74,457 shares of the conglomerate’s stock worth $564,000 after buying an additional 6,826 shares during the period. Institutional investors own 57.85% of the company’s stock.
Several brokerages have recently issued reports on GE. Deutsche Bank downgraded Cogent Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Zacks Investment Research downgraded GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Citigroup set a $14.00 target price on General Electric and gave the stock a “buy” rating in a research report on Wednesday, June 19th. UBS Group set a $115.00 target price on Entergy and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. set a $60.00 target price on Bayerische Motoren Werke and gave the stock a “sell” rating in a research report on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.62.
In other General Electric news, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $10.02, for a total value of $12,921,170.76. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.
GE opened at $10.45 on Friday. The firm has a market capitalization of $93.14 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.43 and a beta of 1.03. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The business has a 50 day moving average price of $10.31.
General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion for the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, research analysts predict that General Electric will post 0.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. General Electric’s dividend payout ratio is currently 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.
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