Hayden Royal LLC increased its stake in General Electric (NYSE:GE) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,628 shares of the conglomerate’s stock after buying an additional 1,343 shares during the period. Hayden Royal LLC’s holdings in General Electric were worth $219,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in GE. Allen Investment Management LLC grew its stake in shares of General Electric by 50.4% in the 4th quarter. Allen Investment Management LLC now owns 832,696 shares of the conglomerate’s stock worth $6,304,000 after buying an additional 278,936 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in General Electric by 1,719.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,319,274 shares of the conglomerate’s stock valued at $2,288,000 after buying an additional 16,367,170 shares during the period. WINTON GROUP Ltd purchased a new stake in General Electric in the 4th quarter valued at about $6,507,000. CNB Bank boosted its position in General Electric by 7.0% in the 4th quarter. CNB Bank now owns 34,786 shares of the conglomerate’s stock valued at $263,000 after buying an additional 2,288 shares during the period. Finally, Cornell Pochily Investment Advisors Inc. boosted its position in General Electric by 114.2% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock valued at $246,000 after buying an additional 17,317 shares during the period. 57.49% of the stock is owned by institutional investors.
In other news, Director Thomas W. Horton acquired 55,248 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now directly owns 55,248 shares in the company, valued at approximately $498,336.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider L Kevin Cox acquired 105,600 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $9.42 per share, for a total transaction of $994,752.00. The disclosure for this purchase can be found here. Insiders bought a total of 492,532 shares of company stock worth $4,491,512 over the last ninety days. Corporate insiders own 1.13% of the company’s stock.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $28.83 billion. During the same quarter last year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities analysts expect that General Electric will post 0.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.50%. General Electric’s payout ratio is 6.15%.
Several equities research analysts have recently commented on the stock. William Blair restated a “buy” rating on shares of General Electric in a report on Thursday, June 13th. Zacks Investment Research lowered shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target for the company. in a report on Friday, August 2nd. Deutsche Bank set a $10.00 price target on shares of General Electric and gave the company a “hold” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Finally, Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus price target of $11.68.
About General Electric
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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