Whitener Capital Management Inc. lifted its position in General Electric (NYSE:GE) by 48.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 17,879 shares of the conglomerate’s stock after purchasing an additional 5,821 shares during the period. Whitener Capital Management Inc.’s holdings in General Electric were worth $187,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of GE. CHICAGO TRUST Co NA boosted its holdings in General Electric by 0.4% in the second quarter. CHICAGO TRUST Co NA now owns 249,228 shares of the conglomerate’s stock valued at $2,617,000 after acquiring an additional 992 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in General Electric by 1.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 59,059 shares of the conglomerate’s stock valued at $447,000 after acquiring an additional 1,013 shares in the last quarter. Evanson Asset Management LLC boosted its holdings in General Electric by 5.6% in the second quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock valued at $205,000 after acquiring an additional 1,029 shares in the last quarter. Cetera Investment Advisers boosted its holdings in General Electric by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 105,683 shares of the conglomerate’s stock valued at $818,000 after acquiring an additional 1,054 shares in the last quarter. Finally, Monarch Capital Management Inc. boosted its holdings in General Electric by 0.7% in the second quarter. Monarch Capital Management Inc. now owns 165,752 shares of the conglomerate’s stock valued at $1,740,000 after acquiring an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 57.49% of the company’s stock.
In related news, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $7.93 per share, with a total value of $1,999,946.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction dated Friday, May 24th. The stock was 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. In the last ninety days, insiders bought 784,568 shares of company stock valued at $6,815,745. 1.13% of the stock is owned by insiders.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. The firm had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. General Electric’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 EPS. Research analysts anticipate that General Electric will post 0.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Friday, June 28th. General Electric’s dividend payout ratio is presently 6.15%.
A number of brokerages have recently commented on GE. Zacks Investment Research cut shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 target price on the stock. in a report on Friday, August 2nd. ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a report on Friday. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the company from $13.00 to $11.50 in a report on Monday, July 15th. William Blair restated a “buy” rating on shares of General Electric in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price 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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