Beese Fulmer Investment Management Inc. Cuts Position in General Electric (NYSE:GE)

Beese Fulmer Investment Management Inc. lessened its stake in General Electric (NYSE:GE) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,408 shares of the conglomerate’s stock after selling 898 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in General Electric were worth $2,242,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in GE. Prostatis Group LLC purchased a new position in General Electric during the 4th quarter valued at about $29,000. Silicon Valley Capital Partners purchased a new position in General Electric during the 4th quarter valued at about $31,000. Global Wealth Management Investment Advisory Inc. increased its holdings in General Electric by 808.1% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 299 shares in the last quarter. Syverson Strege & Co increased its holdings in General Electric by 53.6% during the 1st quarter. Syverson Strege & Co now owns 338 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 118 shares in the last quarter. Finally, Financial Freedom LLC purchased a new position in General Electric during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.

Insider Buying and Selling

In other General Electric news, major shareholder General Electric Pension Trust bought 35,160 shares of the stock in a transaction on Friday, June 30th. The stock was purchased at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other General Electric news, major shareholder General Electric Pension Trust bought 35,160 shares of the stock in a transaction on Friday, June 30th. The stock was purchased at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares in the company, valued at $174,361,270.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 112,614 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the transaction, the senior vice president now directly owns 57,923 shares of the company’s stock, valued at approximately $6,672,729.60. The disclosure for this sale can be found here. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the subject of several recent research reports. Jefferies Financial Group raised their target price on shares of General Electric from $120.00 to $130.00 and gave the company a “buy” rating in a report on Monday, July 17th. Argus raised their price target on shares of General Electric from $112.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Wolfe Research raised their price target on shares of General Electric from $107.00 to $125.00 in a research note on Wednesday, June 28th. Barclays raised their price target on shares of General Electric from $125.00 to $131.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 25th. Finally, Bank of America raised their price target on shares of General Electric from $108.00 to $120.00 in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $120.00.

General Electric Trading Down 0.1 %

GE stock traded down $0.16 during midday trading on Friday, reaching $115.49. 6,733,494 shares of the company’s stock traded hands, compared to its average volume of 6,146,510. The company has a market capitalization of $125.70 billion, a P/E ratio of 13.70, a PEG ratio of 7.09 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.25 and a quick ratio of 0.90. General Electric has a fifty-two week low of $48.06 and a fifty-two week high of $117.96. The business has a 50-day moving average price of $112.98 and a two-hundred day moving average price of $103.91.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The firm had revenue of $15.85 billion for the quarter, compared to analysts’ expectations of $14.76 billion. General Electric had a net margin of 13.32% and a return on equity of 9.30%. General Electric’s revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Equities research analysts forecast that General Electric will post 2.29 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. General Electric’s dividend payout ratio (DPR) is presently 3.80%.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.