FOURPOINTS Investment Managers S.A.S. Reduces Stake in General Electric Company (GE)
FOURPOINTS Investment Managers S.A.S. lowered its position in General Electric Company (NYSE:GE) by 21.6% during the first quarter, Holdings Channel reports. The firm owned 48,600 shares of the conglomerate’s stock after selling 13,400 shares during the period. FOURPOINTS Investment Managers S.A.S.’s holdings in General Electric were worth $1,448,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GE. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the first quarter worth approximately $114,000. Heritage Way Advisors LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $205,000. Cheviot Value Management LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $208,000. Cable Hill Partners LLC raised its position in shares of General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock worth $210,000 after buying an additional 780 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of General Electric during the first quarter worth approximately $214,000. 54.29% of the stock is owned by hedge funds and other institutional investors.
General Electric Company (NYSE:GE) traded up 0.20% during midday trading on Friday, reaching $25.35. 5,714,899 shares of the company traded hands. The firm’s 50 day moving average price is $26.35 and its 200 day moving average price is $28.56. The firm has a market capitalization of $219.48 billion, a price-to-earnings ratio of 30.88 and a beta of 1.21. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect that General Electric Company will post $1.57 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is presently 118.52%.
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A number of equities analysts have commented on GE shares. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the stock a “sell” rating in a report on Saturday, May 20th. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective on the stock. in a report on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of General Electric in a report on Monday, July 24th. Stifel Nicolaus boosted their price objective on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada cut their price objective on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $30.08.
In related news, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James E. Rohr bought 27,425 shares of the company’s stock in a transaction on Monday, July 24th. The stock was bought at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 253,253 shares of company stock valued at $6,770,864. Insiders own 0.36% of the company’s stock.
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