Oppenheimer & Co. Inc. Has $45.53 Million Stake in General Electric Company (GE)
Oppenheimer & Co. Inc. reduced its position in General Electric Company (NYSE:GE) by 5.0% during the first quarter, Holdings Channel reports. The firm owned 1,527,953 shares of the conglomerate’s stock after selling 80,636 shares during the period. General Electric accounts for 1.3% of Oppenheimer & Co. Inc.’s holdings, making the stock its 4th largest position. Oppenheimer & Co. Inc.’s holdings in General Electric were worth $45,532,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric during the first quarter worth about $114,000. Heritage Way Advisors LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $205,000. Cheviot Value Management LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $208,000. Cable Hill Partners LLC increased its stake 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 period. Finally, Parametrica Management Ltd acquired a new stake in shares of General Electric during the first quarter worth about $214,000. Institutional investors own 54.29% of the company’s stock.
General Electric Company (NYSE GE) traded up 0.20% during mid-day trading on Friday, hitting $25.35. The company had a trading volume of 5,687,638 shares. The stock has a 50 day moving average price of $26.35 and a 200-day moving average price of $28.56. General Electric Company has a 1-year low of $25.26 and a 1-year high of $32.38. The stock has a market capitalization of $219.48 billion, a PE ratio of 30.88 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 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, 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. Investors of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
A number of brokerages recently issued reports on GE. Cowen and Company reiterated a “hold” rating and issued a $24.00 price objective on shares of General Electric in a research report on Monday. Stifel Nicolaus lowered their price target on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Citigroup Inc. restated a “buy” rating and set a $31.00 price target (down previously from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $28.93 price target on the stock in a research report on Wednesday, June 7th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $30.08.
In related news, CEO John Leonard Flannery bought 103,983 shares of General Electric stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average cost of $25.56 per share, with a total value 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 approximately $13,021,030.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the transaction, the insider now directly owns 175,717 shares in the company, valued at $4,507,141.05. The disclosure for this sale can be found here. Insiders purchased a total of 253,253 shares of company stock worth $6,770,864 over the last three months. 0.36% of the stock is currently owned by corporate insiders.
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