BB&T Securities LLC raised its stake in shares of General Electric Co. (NYSE:GE) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,975,191 shares of the company’s stock after buying an additional 44,177 shares during the period. General Electric makes up about 1.0% of BB&T Securities LLC’s portfolio, making the stock its 13th largest position. BB&T Securities LLC’s holdings in General Electric were worth $62,178,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Chelsea Counsel Co. raised its stake in shares of General Electric by 1.7% in the first quarter. Chelsea Counsel Co. now owns 166,072 shares of the company’s stock valued at $5,280,000 after buying an additional 2,700 shares in the last quarter. Catamount Wealth Management raised its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock valued at $110,000 after buying an additional 901 shares in the last quarter. Nexus Investment Management Inc. raised its stake in shares of General Electric by 0.4% in the second quarter. Nexus Investment Management Inc. now owns 691,285 shares of the company’s stock valued at $21,762,000 after buying an additional 2,600 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of General Electric by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 111,883 shares of the company’s stock valued at $3,522,000 after buying an additional 672 shares in the last quarter. Finally, First PREMIER Bank raised its stake in shares of General Electric by 2.8% in the second quarter. First PREMIER Bank now owns 74,098 shares of the company’s stock valued at $2,332,000 after buying an additional 1,990 shares in the last quarter. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.261% during midday trading on Friday, reaching $28.845. The company had a trading volume of 6,743,139 shares. The stock’s 50 day moving average price is $30.04 and its 200-day moving average price is $30.71. The firm has a market capitalization of $258.49 billion, a P/E ratio of 24.383 and a beta of 1.15. General Electric Co. has a one year low of $27.10 and a one year high of $33.00.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, equities research analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.20%. General Electric’s payout ratio is 77.97%.
Several brokerages have commented on GE. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of General Electric in a research note on Tuesday, June 28th. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a research note on Wednesday, June 29th. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.83 price target for the company in a research note on Monday, June 27th. Finally, Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. General Electric presently has a consensus rating of “Buy” and an average price target of $32.79.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were bought at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.
General Electric Company Profile