Logan Capital Management Inc. Has $7.56 Million Stake in General Electric Company (GE)
Logan Capital Management Inc. decreased its position in General Electric Company (NYSE:GE) by 7.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 253,686 shares of the conglomerate’s stock after selling 20,113 shares during the period. Logan Capital Management Inc.’s holdings in General Electric were worth $7,560,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of GE. Norges Bank bought a new stake in shares of General Electric during the fourth quarter worth $2,383,193,000. Harris Associates L P boosted its stake in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock worth $161,524,000 after buying an additional 1,591,790 shares in the last quarter. Finally, Dodge & Cox bought a new stake in shares of General Electric during the fourth quarter worth $46,414,000. 54.29% of the stock is currently owned by institutional investors.
Shares of General Electric Company (NYSE:GE) traded up 0.178% during mid-day trading on Friday, hitting $25.345. 5,684,826 shares of the stock traded hands. The stock has a 50-day moving average of $26.35 and a 200 day moving average of $28.56. The stock has a market cap of $219.44 billion, a PE ratio of 30.871 and a beta of 1.21. General Electric Company has a one year low of $25.26 and a one year high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period last year, the business posted $0.51 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict that General Electric Company will post $1.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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GE has been the subject of a number of recent analyst reports. UBS AG reiterated a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus lifted their price target on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Monday, May 29th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target for the company. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $30.08.
In related news, Director William G. Beattie bought 16,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $28.05 per share, for a total transaction of $448,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction on 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 completion of the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. Insiders have purchased 253,253 shares of company stock worth $6,770,864 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
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