Lodestar Investment Counsel LLC IL Purchases 3,563 Shares of General Electric Company (GE)
Lodestar Investment Counsel LLC IL grew its position in shares of General Electric Company (NYSE:GE) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 361,631 shares of the conglomerate’s stock after buying an additional 3,563 shares during the period. Lodestar Investment Counsel LLC IL’s holdings in General Electric were worth $9,768,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of GE. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the first quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric in the first quarter worth $114,000. PHH Investments Ltd. increased 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 purchasing an additional 2,000 shares during the period. Parametrica Management Ltd bought a new position in shares of General Electric in the first quarter worth $214,000. Finally, Barber Financial Group Inc. increased its position in shares of General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 220 shares during the period. Hedge funds and other institutional investors own 54.71% of the company’s stock.
GE has been the topic of a number of recent analyst reports. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price target on the stock. in a research report on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 price objective (down from $27.00) on shares of General Electric in a research note on Monday, July 24th. BidaskClub lowered General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 28th. Deutsche Bank AG reaffirmed a “sell” rating and issued a $24.00 price objective on shares of General Electric in a research note on Thursday, June 8th. Finally, J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the company a “sell” rating in a research note on Monday, July 24th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus price target of $28.63.
In other news, Director James S. Tisch bought 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alexander Dimitrief bought 1,845 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Insiders bought a total of 233,253 shares of company stock valued at $5,860,264 in the last three months. Corporate insiders own 0.36% of the company’s stock.
General Electric Company (NYSE GE) traded down 0.25% during midday trading on Friday, hitting $24.18. The stock had a trading volume of 33,673,712 shares. The firm’s 50-day moving average price is $24.74 and its 200 day moving average price is $27.46. The company has a market cap of $209.35 billion, a P/E ratio of 29.45 and a beta of 1.22. General Electric Company has a 12 month low of $23.58 and a 12 month high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter last year, the business posted $0.51 EPS. The business’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date is Friday, September 15th. General Electric’s dividend payout ratio is currently 118.52%.
About General Electric
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