Highland Capital Management LLC increased its stake in shares of General Electric Company (NYSE:GE) by 3.9% during the second quarter, Holdings Channel reports. The fund owned 602,584 shares of the conglomerate’s stock after buying an additional 22,359 shares during the period. General Electric accounts for about 1.3% of Highland Capital Management LLC’s portfolio, making the stock its 12th largest position. Highland Capital Management LLC’s holdings in General Electric were worth $16,276,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. BTIM Corp. raised its stake in shares of General Electric by 3.8% in the second quarter. BTIM Corp. now owns 160,678 shares of the conglomerate’s stock valued at $4,340,000 after buying an additional 5,860 shares during the last quarter. Kessler Investment Group LLC raised its stake in shares of General Electric by 1,367.0% in the second quarter. Kessler Investment Group LLC now owns 84,351 shares of the conglomerate’s stock valued at $2,278,000 after buying an additional 78,601 shares during the last quarter. Sit Investment Associates Inc. raised its stake in shares of General Electric by 4.1% in the second quarter. Sit Investment Associates Inc. now owns 19,152 shares of the conglomerate’s stock valued at $517,000 after buying an additional 752 shares during the last quarter. Hengehold Capital Management LLC raised its stake in shares of General Electric by 2.3% in the second quarter. Hengehold Capital Management LLC now owns 92,868 shares of the conglomerate’s stock valued at $2,508,000 after buying an additional 2,055 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of General Electric by 1.8% in the second quarter. Patten & Patten Inc. TN now owns 668,805 shares of the conglomerate’s stock valued at $18,064,000 after buying an additional 11,941 shares during the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.

Shares of General Electric Company (GE) traded down 0.87% on Tuesday, reaching $25.14. 12,127,594 shares of the company’s stock were exchanged. The stock has a market cap of $217.66 billion, a price-to-earnings ratio of 30.62 and a beta of 1.21. General Electric Company has a one year low of $25.10 and a one year high of $32.38. The company’s 50 day moving average is $26.22 and its 200-day moving average is $28.46.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s revenue was down 11.8% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, analysts anticipate that General Electric Company will post $1.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a yield of 3.79%. General Electric’s dividend payout ratio is presently 118.52%.

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Several equities research analysts have issued reports on the stock. Cowen and Company reiterated a “hold” rating and set a $24.00 target price on shares of General Electric in a research report on Monday, August 7th. UBS AG restated a “buy” rating and issued a $31.00 price objective (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Stifel Nicolaus lowered their price objective on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating and issued a $31.00 price objective (down from $34.00) on shares of General Electric in a report on Monday, July 24th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $26.00 price objective (down from $27.00) on shares of General Electric in a report on Monday, July 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 assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.08.

In other General Electric news, insider Alexander Dimitrief bought 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was acquired at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now owns 65,597 shares in the company, valued at $1,675,347.38. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 137,253 shares of company stock valued at $3,515,064. 0.36% of the stock is owned by corporate insiders.

About General Electric

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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