The Hugh Johnson Advisors LLC reached $648,000 position of General Electric Co. (GE)

The Hugh Johnson Advisors LLC reached $648,000 position  of General Electric Co. (GE)

Hugh Johnson Advisors LLC reduced its position in shares of General Electric Co. (NYSE:GE) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,585 shares of the company’s stock after selling 718 shares during the period. Hugh Johnson Advisors LLC’s holdings in General Electric were worth $648,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Fisher Asset Management LLC raised its stake in General Electric by 0.5% in the second quarter. Fisher Asset Management LLC now owns 31,314,984 shares of the company’s stock valued at $1,008,656,000 after buying an additional 161,641 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in General Electric by 3.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,336,995 shares of the company’s stock valued at $860,569,000 after buying an additional 903,836 shares during the period. Swiss National Bank raised its stake in General Electric by 6.7% in the second quarter. Swiss National Bank now owns 26,154,361 shares of the company’s stock valued at $823,339,000 after buying an additional 1,634,800 shares during the period. Jennison Associates LLC raised its stake in General Electric by 9.5% in the second quarter. Jennison Associates LLC now owns 18,226,299 shares of the company’s stock valued at $573,764,000 after buying an additional 1,588,006 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its stake in General Electric by 15.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,548,121 shares of the company’s stock valued at $426,495,000 after buying an additional 1,857,761 shares during the period. 55.81% of the stock is owned by institutional investors.

General Electric Co. (NYSE:GE) traded down 0.467% on Thursday, hitting $28.765. 11,236,875 shares of the stock were exchanged. The stock has a market capitalization of $257.77 billion, a P/E ratio of 24.315 and a beta of 1.15. The company has a 50 day moving average of $30.11 and a 200 day moving average of $30.72. General Electric Co. has a one year low of $27.10 and a one year high of $33.00.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business earned $33.49 million during the quarter, compared to the consensus estimate of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, equities research analysts forecast that General Electric Co. will post $1.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is 77.97%.

GE has been the topic of several research reports. Vetr upgraded shares of General Electric from a “hold” rating to a “buy” rating and set a $30.83 price objective on the stock in a research note on Monday, June 27th. Stifel Nicolaus reiterated a “buy” rating and set a $34.00 price objective on shares of General Electric in a research note on Monday, June 27th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Citigroup Inc. reiterated a “buy” rating and set a $36.00 price objective on shares of General Electric in a research note on Monday, July 25th. Finally, TheStreet upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research note on Friday, July 22nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.79.

In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

General Electric Company Profile

Related posts

Leave a Comment