General Electric Company (GE) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. raised its holdings in General Electric Company (NYSE:GE) by 4.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 245,444 shares of the conglomerate’s stock after purchasing an additional 10,409 shares during the period. General Electric comprises 0.9% of Sumitomo Life Insurance Co.’s holdings, making the stock its 20th largest position. Sumitomo Life Insurance Co.’s holdings in General Electric were worth $6,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harris Associates L P lifted its position in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after acquiring an additional 9,681,420 shares in the last quarter. UBS Oconnor LLC lifted its position in shares of General Electric by 795.5% in the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after acquiring an additional 1,798,877 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after acquiring an additional 1,591,790 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of General Electric by 134.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock valued at $64,118,000 after acquiring an additional 1,234,776 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of General Electric by 17.8% in the second quarter. Russell Investments Group Ltd. now owns 8,072,829 shares of the conglomerate’s stock valued at $218,059,000 after acquiring an additional 1,222,434 shares in the last quarter. 54.67% of the stock is currently owned by institutional investors.

In other news, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 233,253 shares of company stock worth $5,860,264. Corporate insiders own 0.36% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://ledgergazette.com/2017/10/19/general-electric-company-ge-shares-bought-by-sumitomo-life-insurance-co.html.

Shares of General Electric Company (GE) opened at 23.12 on Thursday. The firm has a market cap of $200.17 billion, a PE ratio of 28.16 and a beta of 1.19. The firm’s 50-day moving average price is $24.15 and its 200 day moving average price is $26.61. General Electric Company has a 1-year low of $22.83 and a 1-year high of $32.38.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric Company will post $1.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.

GE has been the topic of several research reports. Citigroup Inc. restated a “buy” rating and issued a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research report on Tuesday, July 4th. Stifel Nicolaus decreased their target price on G

A number of other institutional investors and hedge funds have also modified their holdings of the business. Harris Associates L P lifted its position in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after acquiring an additional 9,681,420 shares in the last quarter. UBS Oconnor LLC lifted its position in shares of General Electric by 795.5% in the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after acquiring an additional 1,798,877 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after acquiring an additional 1,591,790 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of General Electric by 134.7% in the first quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock valued at $64,118,000 after acquiring an additional 1,234,776 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of General Electric by 17.8% in the second quarter. Russell Investments Group Ltd. now owns 8,072,829 shares of the conglomerate’s stock valued at $218,059,000 after acquiring an additional 1,222,434 shares in the last quarter. 54.67% of the stock is currently owned by institutional investors.

In other news, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 509,430 shares of the company’s stock, valued at approximately $13,021,030.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Alexander Dimitrief bought 1,845 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the completion of the transaction, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 233,253 shares of company stock worth $5,860,264. Corporate insiders own 0.36% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://ledgergazette.com/2017/10/19/general-electric-company-ge-shares-bought-by-sumitomo-life-insurance-co.html.

Shares of General Electric Company (GE) opened at 23.12 on Thursday. The firm has a market cap of $200.17 billion, a PE ratio of 28.16 and a beta of 1.19. The firm’s 50-day moving average price is $24.15 and its 200 day moving average price is $26.61. General Electric Company has a 1-year low of $22.83 and a 1-year high of $32.38.

General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities research analysts forecast that General Electric Company will post $1.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.

GE has been the topic of several research reports. Citigroup Inc. restated a “buy” rating and issued a $34.00 target price (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price on the stock. in a research report on Tuesday, July 4th. Stifel Nicolaus decreased their target price 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. UBS AG restated a “buy” rating and issued a $31.00 target price (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.93.

About General Electric

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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