ING Groep NV Acquires 461,788 Shares of General Electric Company (GE)
ING Groep NV raised its holdings in shares of General Electric Company (NYSE:GE) by 198.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 694,527 shares of the conglomerate’s stock after buying an additional 461,788 shares during the period. ING Groep NV’s holdings in General Electric were worth $18,759,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Ullmann Financial Group Inc. acquired a new stake in General Electric during the 1st quarter valued at approximately $106,000. Feltz Wealth PLAN Inc. acquired a new position in shares of General Electric in the 1st quarter worth approximately $114,000. PHH Investments Ltd. grew its position in shares of General Electric by 105.0% in 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 bought a new stake in shares of General Electric in the 1st quarter valued at approximately $214,000. Finally, Barber Financial Group Inc. increased its holdings in shares of General Electric by 3.1% in the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 220 shares during the last quarter. Institutional investors own 54.71% of the company’s stock.
General Electric Company (GE) traded down 1.0710% during mid-day trading on Wednesday, hitting $24.5344. The stock had a trading volume of 17,852,075 shares. The company has a market cap of $212.42 billion, a P/E ratio of 29.8836 and a beta of 1.19. The company has a 50-day moving average price of $24.48 and a 200 day moving average price of $27.08. General Electric Company has a 1-year low of $23.58 and a 1-year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The business had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the prior year, the company posted $0.51 earnings per share. General Electric’s revenue was down 11.8% compared to the same quarter last year. Equities research analysts forecast that General Electric Company will post $1.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.
In related news, insider Alexander Dimitrief acquired 1,845 shares of the stock in a transaction on 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 purchase, the insider now directly owns 65,597 shares in the company, valued at $1,675,347.38. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. Insiders acquired a total of 233,253 shares of company stock valued at $5,860,264 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
GE has been the topic of a number of recent research reports. UBS AG reissued a “buy” rating and issued a $31.00 target price (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and set a $34.00 price target (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price objective on shares of General Electric in a report on Friday, September 15th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Finally, Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target for the company in a research note on Wednesday, June 7th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $28.57.
About General Electric
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