Maple Capital Management Inc. Has $9.03 Million Stake in General Electric Company (GE)
Maple Capital Management Inc. cut its stake in General Electric Company (NYSE:GE) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 334,469 shares of the conglomerate’s stock after selling 8,434 shares during the period. General Electric accounts for approximately 2.6% of Maple Capital Management Inc.’s portfolio, making the stock its 9th largest position. Maple Capital Management Inc.’s holdings in General Electric were worth $9,034,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in General Electric during the fourth quarter valued at approximately $2,383,193,000. Harris Associates L P increased its position in General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after buying an additional 776,656 shares in the last quarter. Teachers Advisors LLC increased its position in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares in the last quarter. Finally, Bank of Montreal Can increased its position in General Electric by 11.0% in the second quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after buying an additional 1,005,937 shares in the last quarter. 54.29% of the stock is currently owned by institutional investors.
General Electric Company (GE) traded down 0.40% during mid-day trading on Friday, reaching $25.20. 19,217,278 shares of the company were exchanged. General Electric Company has a 1-year low of $25.19 and a 1-year high of $32.38. The stock has a 50-day moving average of $26.28 and a 200 day moving average of $28.52. The firm has a market capitalization of $218.18 billion, a P/E ratio of 30.69 and a beta of 1.21.
General Electric (NYSE:GE) last posted its quarterly earnings data 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 firm had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts forecast that General Electric Company will post $1.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.81%. General Electric’s dividend payout ratio (DPR) is 118.52%.
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GE has been the topic of several recent analyst reports. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the stock a “sell” rating in a research note on Saturday, May 20th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price target on the stock. in a research note on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 price target (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. Stifel Nicolaus raised their price target on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada reduced their price target on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, CEO John Leonard Flannery acquired 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was purchased at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James E. Rohr acquired 27,425 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was purchased at an average price of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 253,253 shares of company stock valued at $6,770,864. Company insiders own 0.36% of the company’s stock.
About General Electric
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