MEMBERS Trust Co Invests $2.31 Million in General Electric Company (NYSE:GE)
MEMBERS Trust Co bought a new position in General Electric Company (NYSE:GE) during the first quarter, Holdings Channel reports. The institutional investor bought 77,447 shares of the conglomerate’s stock, valued at approximately $2,308,000. General Electric comprises approximately 0.1% of MEMBERS Trust Co’s portfolio, making the stock its 19th largest position.
Other institutional investors have also recently modified their holdings of the company. Jarislowsky Fraser Ltd increased its position in shares of General Electric by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock worth $128,787,000 after buying an additional 211,742 shares during the last quarter. Discovery Capital Management LLC CT purchased a new position in shares of General Electric during the fourth quarter worth approximately $29,719,000. Roundview Capital LLC increased its position in shares of General Electric by 2.0% in the fourth quarter. Roundview Capital LLC now owns 76,472 shares of the conglomerate’s stock worth $2,417,000 after buying an additional 1,515 shares during the last quarter. AE Wealth Management LLC purchased a new position in shares of General Electric during the fourth quarter worth approximately $2,092,000. Finally, Banco Santander S.A. purchased a new position in shares of General Electric during the fourth quarter worth approximately $13,259,000. Hedge funds and other institutional investors own 54.29% of the company’s stock.
General Electric Company (GE) traded up 0.20% on Friday, reaching $25.35. 5,704,692 shares of the company traded hands. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38. The company has a 50-day moving average price of $26.35 and a 200-day moving average price of $28.56. The company has a market capitalization of $219.48 billion, a P/E ratio of 30.88 and a beta of 1.21.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. General Electric’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. Equities research analysts expect that General Electric Company will post $1.57 EPS for the current year.
The company also recently disclosed 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 annualized dividend and a yield of 3.79%. General Electric’s dividend payout ratio is presently 118.52%.
GE has been the subject of a number of analyst reports. UBS AG reiterated a “buy” rating and set a $31.00 target price (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Deutsche Bank AG set a $24.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, May 29th. Citigroup Inc. reiterated a “buy” rating and set a $34.00 target price (down previously from $36.00) on shares of General Electric in a research note on Monday, July 10th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price for the company. in a research note on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research note on Friday, July 7th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, insider Alexander Dimitrief acquired 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 253,253 shares of company stock worth $6,770,864. 0.36% of the stock is currently owned by insiders.
About General Electric
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