Boston Advisors LLC Decreases Position in General Electric Company (GE)
Boston Advisors LLC cut its stake in shares of General Electric Company (NYSE:GE) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 200,738 shares of the conglomerate’s stock after selling 19,841 shares during the period. Boston Advisors LLC’s holdings in General Electric were worth $5,422,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ullmann Financial Group Inc. acquired a new position in shares of General Electric in the first quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. acquired a new position in General Electric during the 1st quarter worth approximately $114,000. PHH Investments Ltd. grew its holdings in General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares in the last quarter. Parametrica Management Ltd acquired a new position in General Electric during the 1st quarter worth approximately $214,000. Finally, Oakmont Partners LLC grew its holdings in General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after acquiring an additional 278 shares in the last quarter. Institutional investors and hedge funds own 54.69% of the company’s stock.
General Electric Company (NYSE:GE) traded down 0.30% on Friday, reaching $22.98. 40,391,802 shares of the company traded hands. The firm has a 50 day moving average price of $24.25 and a 200 day moving average price of $26.78. General Electric Company has a 52-week low of $22.83 and a 52-week high of $32.38. 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 (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $29.07 billion. During the same period in the previous year, the company earned $0.51 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that General Electric Company will post $1.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.18%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
Several brokerages have recently weighed in on GE. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $29.97 price objective for the company. in a research report on Monday, June 19th. BidaskClub upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) set a $30.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research report on Thursday, June 22nd. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $22.00 price target (down previously from $27.00) on shares of General Electric in a research report on Thursday, July 6th. Finally, Standpoint Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $24.00 price target for the company in a research report on Thursday, June 29th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.16.
In other news, Director James S. Tisch acquired 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of the stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 233,253 shares of company stock valued at $5,860,264. Corporate insiders own 0.36% of the company’s stock.
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