Cambridge Trust Co. Has $37.42 Million Position in General Electric Company (GE)
Cambridge Trust Co. reduced its position in shares of General Electric Company (NYSE:GE) by 0.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,255,675 shares of the conglomerate’s stock after selling 3,280 shares during the period. General Electric comprises approximately 2.5% of Cambridge Trust Co.’s holdings, making the stock its 5th largest position. Cambridge Trust Co.’s holdings in General Electric were worth $37,420,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of General Electric during the fourth quarter worth $2,383,193,000. Harris Associates L P raised its stake in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock worth $161,524,000 after buying an additional 1,591,790 shares in the last quarter. Finally, Dodge & Cox acquired a new stake in shares of General Electric during the fourth quarter worth $46,414,000. 54.31% of the stock is currently owned by institutional investors.
Shares of General Electric Company (GE) traded down 0.99% on Tuesday, reaching $25.11. The company’s stock had a trading volume of 7,624,347 shares. General Electric Company has a 1-year low of $25.10 and a 1-year high of $32.38. The stock has a 50-day moving average of $26.22 and a 200 day moving average of $28.46. The stock has a market capitalization of $217.40 billion, a PE ratio of 30.58 and a beta of 1.21.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same quarter last year, the business posted $0.51 EPS. The company’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio is 118.52%.
A number of equities research analysts have weighed in on GE shares. UBS AG reaffirmed a “buy” rating and issued a $31.00 price objective (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Stifel Nicolaus boosted their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target on the stock. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, Director William G. Beattie acquired 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average price of $27.70 per share, with a total value of $110,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. Insiders purchased a total of 137,253 shares of company stock valued at $3,515,064 in the last ninety days. Company insiders own 0.36% of the company’s stock.
General Electric Company Profile
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