Check Capital Management Inc. CA Lowers Position in General Electric (GE)
Check Capital Management Inc. CA trimmed its holdings in shares of General Electric (NYSE:GE) by 0.4% in the second quarter, HoldingsChannel reports. The firm owned 1,862,804 shares of the conglomerate’s stock after selling 7,594 shares during the quarter. General Electric makes up 1.3% of Check Capital Management Inc. CA’s holdings, making the stock its 20th largest holding. Check Capital Management Inc. CA’s holdings in General Electric were worth $25,353,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its stake in shares of General Electric by 1.5% during the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after acquiring an additional 7,675,642 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of General Electric by 11.0% during the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of General Electric by 43.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after acquiring an additional 27,527,425 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of General Electric by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 82,038,488 shares of the conglomerate’s stock worth $1,431,571,000 after acquiring an additional 1,193,233 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of General Electric by 15.2% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after acquiring an additional 9,835,343 shares in the last quarter. 53.70% of the stock is owned by institutional investors and hedge funds.
In other General Electric news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the business’s stock in a transaction on Tuesday, July 24th. The stock was acquired at an average price of $13.04 per share, with a total value of $2,490,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.12% of the company’s stock.
NYSE:GE opened at $12.17 on Monday. General Electric has a 1-year low of $11.94 and a 1-year high of $25.21. The firm has a market capitalization of $105.67 billion, a P/E ratio of 11.59, a PEG ratio of 2.30 and a beta of 0.96. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The business had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. sell-side analysts anticipate that General Electric will post 0.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.94%. The ex-dividend date is Friday, September 14th. General Electric’s dividend payout ratio is 45.71%.
General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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