Exxonmobil Investment Management Inc. TX Decreases Holdings in General Electric Company (NYSE:GE)
Exxonmobil Investment Management Inc. TX decreased its holdings in shares of General Electric Company (NYSE:GE) by 13.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,672,060 shares of the conglomerate’s stock after selling 265,410 shares during the quarter. General Electric makes up about 1.1% of Exxonmobil Investment Management Inc. TX’s investment portfolio, making the stock its 13th biggest holding. Exxonmobil Investment Management Inc. TX’s holdings in General Electric were worth $45,162,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric during the 1st quarter worth about $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the 1st quarter worth about $114,000. PHH Investments Ltd. increased its position in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares during the period. Parametrica Management Ltd bought a new position in General Electric during the first quarter worth about $214,000. Finally, Barber Financial Group Inc. increased its position in General Electric by 3.1% during the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 54.69% of the company’s stock.
A number of research firms recently commented on GE. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of General Electric in a research report on Thursday. Vetr raised shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 target price on the stock in a report on Tuesday. J P Morgan Chase & Co reissued an “underweight” rating and issued a $20.00 target price (down from $22.00) on shares of General Electric in a report on Monday, October 9th. Credit Suisse Group restated an “outperform” rating and issued a $30.00 price target (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Finally, Morgan Stanley reduced their price target on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $28.16.
In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now directly owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is currently owned by company insiders.
Shares of General Electric Company (NYSE:GE) traded down 0.30% during mid-day trading on Friday, reaching $22.98. The company had a trading volume of 40,391,802 shares. The firm has a 50-day moving average price of $24.25 and a 200-day moving average price of $26.78. The stock has a market capitalization of $198.96 billion, a price-to-earnings ratio of 27.99 and a beta of 1.19. General Electric Company has a 1-year low of $22.83 and a 1-year high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter last year, the business posted $0.51 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. Equities analysts expect that General Electric Company will post $1.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.18%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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