Mutual of America Capital Management LLC cut its position in General Electric Co. (NYSE:GE) by 10.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,044,015 shares of the company’s stock after selling 124,602 shares during the period. General Electric comprises about 0.6% of Mutual of America Capital Management LLC’s portfolio, making the stock its 11th largest position. Mutual of America Capital Management LLC’s holdings in General Electric were worth $30,924,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Premier Asset Managment LLC increased its position in shares of General Electric by 3.6% in the second quarter. Premier Asset Managment LLC now owns 98,395 shares of the company’s stock worth $3,097,000 after buying an additional 3,375 shares in the last quarter. Palladium Partners LLC boosted its stake in General Electric by 1.4% in the second quarter. Palladium Partners LLC now owns 879,201 shares of the company’s stock worth $27,677,000 after buying an additional 11,873 shares during the last quarter. Cribstone Capital Management LLC boosted its stake in General Electric by 1.3% in the second quarter. Cribstone Capital Management LLC now owns 68,613 shares of the company’s stock worth $2,160,000 after buying an additional 892 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its stake in General Electric by 3.0% in the second quarter. First National Bank of Mount Dora Trust Investment Services now owns 15,741 shares of the company’s stock worth $496,000 after buying an additional 463 shares during the last quarter. Finally, BLB&B Advisors LLC boosted its stake in General Electric by 3.2% in the second quarter. BLB&B Advisors LLC now owns 471,978 shares of the company’s stock worth $14,858,000 after buying an additional 14,484 shares during the last quarter. Institutional investors and hedge funds own 53.34% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) opened at 31.23 on Thursday. The company has a market capitalization of $276.27 billion, a P/E ratio of 26.85 and a beta of 1.20. General Electric Co. has a 52-week low of $27.10 and a 52-week high of $33.00. The stock’s 50 day moving average is $31.57 and its 200 day moving average is $30.78.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 21st. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $29.30 billion for the quarter, compared to analyst estimates of $29.64 billion. General Electric had a net margin of 8.93% and a return on equity of 16.08%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts expect that General Electric Co. will post $1.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Tuesday, December 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.07%. This is a boost from General Electric’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, December 22nd. General Electric’s dividend payout ratio (DPR) is currently 83.48%.
A number of analysts have weighed in on GE shares. Zacks Investment Research cut General Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, November 30th. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $32.17 price objective on the stock in a research note on Wednesday, November 30th. William Blair reiterated an “outperform” rating and issued a $35.00 price objective on shares of General Electric in a research note on Tuesday, December 6th. RBC Capital Markets set a $37.00 price objective on General Electric and gave the company a “buy” rating in a research note on Thursday, December 15th. Finally, Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of General Electric in a research note on Thursday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. General Electric has a consensus rating of “Hold” and an average price target of $33.33.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $29.24 per share, with a total value of $1,462,000.00. Following the transaction, the chairman now directly owns 2,248,688 shares in the company, valued at approximately $65,751,637.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.
General Electric Company Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Co. (NYSE:GE).