Trade Report: Today: Evanston Investments Inc. dba Evanston Advisors Acquires 23 Shares of General Electric Co. (GE)

Today: Evanston Investments Inc. dba Evanston Advisors Acquires 23 Shares of General Electric Co. (GE)

Evanston Investments Inc. dba Evanston Advisors boosted its stake in General Electric Co. (NYSE:GE) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 12,936 shares of the company’s stock after buying an additional 23 shares during the period. Evanston Investments Inc. dba Evanston Advisors’ holdings in General Electric were worth $407,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in GE. 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. James Investment Research Inc. raised its stake in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock valued at $184,000 after buying an additional 150 shares in the last quarter. Cranbrook Wealth Management LLC raised its stake in shares of General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock valued at $188,000 after buying an additional 1,000 shares in the last quarter. Northwest Investment Counselors LLC raised its stake in shares of General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock valued at $216,000 after buying an additional 182 shares in the last quarter. Finally, Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock valued at $216,000 after buying an additional 50 shares in the last quarter. 55.81% of the stock is currently owned by institutional investors.

General Electric Co. (NYSE:GE) traded up 0.42% during mid-day trading on Friday, reaching $28.89. The company had a trading volume of 28,181,380 shares. The stock has a 50 day moving average price of $29.97 and a 200 day moving average price of $30.69. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The company has a market capitalization of $258.89 billion, a P/E ratio of 24.42 and a beta of 1.15.

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

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

Several brokerages have issued reports on GE. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 price objective for the company in a research report on Thursday, July 7th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a research report on Monday, June 27th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $26.00 price objective on shares of General Electric in a research report on Thursday, August 11th. Bank of America Corp. reiterated a “buy” rating and issued a $37.00 price objective on shares of General Electric in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.79.

In related news, Chairman Jeffrey R. Immelt bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was bought at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the transaction, the chairman now owns 2,198,688 shares of the company’s stock, valued at $69,148,737.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

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