Beacon Trust Co. Reached $7,725,000 position of General Electric Co. (GE)

Beacon Trust Co. Reached $7,725,000 position  of General Electric Co. (GE)

Beacon Trust Co. lowered its position in General Electric Co. (NYSE:GE) by 0.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 245,387 shares of the company’s stock after selling 137 shares during the period. General Electric makes up 1.2% of Beacon Trust Co.’s portfolio, making the stock its 22nd largest position. Beacon Trust Co.’s holdings in General Electric were worth $7,725,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. First Pacific Advisors LLC boosted its position in shares of General Electric by 2.4% in the second quarter. First Pacific Advisors LLC now owns 10,649,460 shares of the company’s stock valued at $335,245,000 after buying an additional 253,960 shares during the last quarter. Rockefeller Financial Services Inc. boosted its position in General Electric by 7.0% in the second quarter. Rockefeller Financial Services Inc. now owns 318,258 shares of the company’s stock valued at $10,019,000 after buying an additional 20,893 shares in the last quarter. RS Investment Management Co. LLC boosted its position in General Electric by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 1,090,981 shares of the company’s stock valued at $34,344,000 after buying an additional 2,955 shares in the last quarter. MSI Financial Services Inc boosted its position in General Electric by 5.1% in the second quarter. MSI Financial Services Inc now owns 697,010 shares of the company’s stock valued at $21,942,000 after buying an additional 33,634 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in General Electric by 0.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,881,602 shares of the company’s stock valued at $59,233,000 after buying an additional 10,060 shares in the last quarter. 55.50% of the stock is currently owned by institutional investors.

Shares of General Electric Co. (NYSE:GE) opened at 30.71 on Monday. General Electric Co. has a 1-year low of $27.10 and a 1-year high of $33.00. The firm has a 50-day moving average of $29.21 and a 200 day moving average of $30.40. The company has a market capitalization of $271.67 billion, a P/E ratio of 26.41 and a beta of 1.20.

General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.32. The firm earned $29.30 billion during the quarter, compared to analysts’ expectations of $29.64 billion. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. On average, analysts anticipate that General Electric Co. will post $1.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Monday, September 19th were paid a $0.23 dividend. The ex-dividend date was Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.00%. General Electric’s dividend payout ratio (DPR) is presently 80.00%.

GE has been the topic of several recent analyst reports. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $32.72 target price on the stock. in a research report on Monday, October 31st. Sanford C. Bernstein set a $33.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Monday, October 24th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $26.00 target price on shares of General Electric in a research report on Thursday, August 11th. RBC Capital Markets set a $36.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Friday, October 21st. Finally, Bank of America Corp. restated a “buy” rating and set a $37.00 price target on shares of General Electric in a research note on Thursday, October 6th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company. General Electric presently has an average rating of “Hold” and a consensus price target of $32.56.

In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric stock in a transaction dated Wednesday, November 9th. The stock was purchased at an average cost of $29.24 per share, with a total value of $1,462,000.00. Following the completion of the purchase, the chairman now directly owns 2,248,688 shares in the company, valued at approximately $65,751,637.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

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