Telemus Capital LLC Increases Stake in General Electric Company (GE)
Telemus Capital LLC lifted its stake in shares of General Electric Company (NYSE:GE) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,041 shares of the conglomerate’s stock after purchasing an additional 96 shares during the period. Telemus Capital LLC’s holdings in General Electric were worth $1,082,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GE. Ullmann Financial Group Inc. bought a new stake in shares of General Electric during the first quarter worth approximately $106,000. Feltz Wealth PLAN Inc. bought a new stake in shares of General Electric during the first quarter worth approximately $114,000. PHH Investments Ltd. raised its stake in shares of General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the last quarter. Oakmont Partners LLC raised its stake in shares of General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after buying an additional 278 shares during the last quarter. Finally, Cascade Investment Advisors Inc. raised its stake in shares of General Electric by 25.2% during the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock worth $218,000 after buying an additional 1,625 shares during the last quarter. Institutional investors own 54.53% of the company’s stock.
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General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.81%. General Electric’s dividend payout ratio is currently 120.00%.
In other General Electric news, CEO John Leonard Flannery purchased 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was acquired 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 of the company’s stock, valued at approximately $13,021,030.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
A number of equities research analysts recently weighed in on GE shares. UBS AG reissued a “buy” rating and set a $31.00 price target (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Bank of America Corporation raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, October 23rd. Royal Bank Of Canada set a $25.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Citigroup Inc. set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, J P Morgan Chase & Co reissued a “sell” rating and set a price target on shares of General Electric in a research note on Thursday, October 19th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $25.84.
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