General Electric Company (GE) Stake Reduced by Crossvault Capital Management LLC
Crossvault Capital Management LLC reduced its position in General Electric Company (NYSE:GE) by 31.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,364 shares of the conglomerate’s stock after selling 19,400 shares during the period. Crossvault Capital Management LLC’s holdings in General Electric were worth $1,117,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Ullmann Financial Group Inc. purchased a new position in shares of General Electric during the first quarter worth $106,000. Feltz Wealth PLAN Inc. purchased a new position in shares of General Electric during the first quarter worth $114,000. PHH Investments Ltd. raised its position in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the last quarter. 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 during the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of General Electric during the first quarter worth $214,000. Institutional investors own 54.77% of the company’s stock.
Shares of General Electric Company (NYSE GE) traded up 2.44% on Friday, reaching $25.15. 30,543,688 shares of the company traded hands. The stock has a market capitalization of $217.75 billion, a price-to-earnings ratio of 30.63 and a beta of 1.21. General Electric Company has a 1-year low of $24.30 and a 1-year high of $32.38. The company has a 50-day moving average of $25.42 and a 200-day moving average of $28.01.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 5.07% and a return on equity of 7.18%. The firm’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Analysts anticipate that General Electric Company will post $1.57 earnings per share for the current fiscal year.
A number of research firms have commented on GE. Stifel Nicolaus reaffirmed a “buy” rating on shares of General Electric in a research report on Wednesday, June 14th. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $28.93 target price for the company in a research report on Wednesday, June 7th. Citigroup Inc. reaffirmed a “buy” rating and issued a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. UBS AG reaffirmed a “buy” rating and issued a $31.00 target price (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, TheStreet downgraded shares of General Electric from a “b-” rating to a “c” rating in a research report on Friday, May 19th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.08.
In related news, Director James S. Tisch bought 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Leonard Flannery bought 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 233,253 shares of company stock worth $5,860,264. 0.36% of the stock is owned by company insiders.
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