Boltwood Capital Management decreased its stake in General Electric (NYSE:GE – Get Rating) by 13.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,641 shares of the conglomerate’s stock after selling 396 shares during the quarter. Boltwood Capital Management’s holdings in General Electric were worth $242,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Burke & Herbert Bank & Trust Co. boosted its stake in shares of General Electric by 3.0% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 6,687 shares of the conglomerate’s stock worth $612,000 after buying an additional 193 shares during the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of General Electric by 9.2% in the first quarter. Harbor Investment Advisory LLC now owns 5,172 shares of the conglomerate’s stock worth $473,000 after buying an additional 435 shares during the last quarter. Sippican Capital Advisors boosted its stake in shares of General Electric by 4.7% in the first quarter. Sippican Capital Advisors now owns 19,549 shares of the conglomerate’s stock worth $1,789,000 after buying an additional 871 shares during the last quarter. Camelot Portfolios LLC boosted its stake in shares of General Electric by 21.4% in the first quarter. Camelot Portfolios LLC now owns 9,198 shares of the conglomerate’s stock worth $842,000 after buying an additional 1,623 shares during the last quarter. Finally, Marcum Wealth LLC boosted its position in General Electric by 47.9% during the first quarter. Marcum Wealth LLC now owns 5,137 shares of the conglomerate’s stock worth $470,000 after purchasing an additional 1,664 shares in the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.
NYSE:GE opened at $63.67 on Friday. General Electric has a one year low of $61.76 and a one year high of $116.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 1.19. The stock has a market cap of $70.08 billion, a PE ratio of -13.90, a P/E/G ratio of 3.40 and a beta of 1.01. The stock has a 50 day moving average price of $73.93 and a 200 day moving average price of $87.45.
General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The firm had revenue of $17.04 billion during the quarter, compared to analysts’ expectations of $16.92 billion. During the same quarter last year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts predict that General Electric will post 2.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Investors of record on Tuesday, June 28th will be issued a $0.08 dividend. The ex-dividend date is Monday, June 27th. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. General Electric’s dividend payout ratio is currently -6.99%.
GE has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their price target on General Electric from $113.00 to $102.00 in a research report on Wednesday, April 27th. Royal Bank of Canada increased their price target on General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a research report on Friday, March 11th. Wells Fargo & Company lowered their price target on General Electric from $84.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on General Electric from $118.00 to $107.00 in a research report on Wednesday, April 27th. Finally, Barclays lowered their price target on General Electric from $100.00 to $96.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.36.
In other General Electric news, CEO H Lawrence Culp, Jr. bought 65,000 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was bought at an average price of $74.53 per share, with a total value of $4,844,450.00. Following the completion of the purchase, the chief executive officer now directly owns 211,210 shares in the company, valued at $15,741,481.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paula Rosput Reynolds bought 1,200 shares of the business’s stock in a transaction on Friday, May 6th. The shares were acquired at an average cost of $77.65 per share, with a total value of $93,180.00. Following the purchase, the director now owns 5,563 shares of the company’s stock, valued at $431,966.95. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 69,801 shares of company stock valued at $5,207,705. Insiders own 0.70% of the company’s stock.
General Electric Company Profile: (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments. Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
Receive News & Ratings for General Electric Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for General Electric and related companies with MarketBeat.com’s FREE daily email newsletter.