Cullen Capital Management LLC lifted its stake in General Electric Company (NYSE:GE) by 2.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,625,955 shares of the conglomerate’s stock after buying an additional 69,735 shares during the quarter. General Electric makes up 2.5% of Cullen Capital Management LLC’s holdings, making the stock its 18th largest position. Cullen Capital Management LLC owned about 3.86% of General Electric worth $70,927,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. K.J. Harrison & Partners Inc raised its holdings in General Electric by 16.3% in the 1st quarter. K.J. Harrison & Partners Inc now owns 92,995 shares of the conglomerate’s stock worth $2,771,000 after purchasing an additional 13,000 shares during the period. BTC Capital Management Inc. raised its holdings in General Electric by 1.1% in the 1st quarter. BTC Capital Management Inc. now owns 134,796 shares of the conglomerate’s stock worth $4,018,000 after purchasing an additional 1,411 shares during the period. Selway Asset Management raised its holdings in General Electric by 1.6% in the 1st quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock worth $1,819,000 after purchasing an additional 975 shares during the period. Pegasus Partners Ltd. raised its holdings in General Electric by 2.3% in the 1st quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock worth $2,358,000 after purchasing an additional 1,795 shares during the period. Finally, Access Financial Services Inc. raised its holdings in General Electric by 81.5% in the 1st quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock worth $1,605,000 after purchasing an additional 24,180 shares during the period. Hedge funds and other institutional investors own 55.74% of the company’s stock.
A number of equities analysts recently weighed in on the company. Vetr cut General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a report on Monday, September 25th. Stifel Nicolaus set a $18.00 target price on General Electric and gave the company a “neutral” rating in a report on Monday. Cowen reissued a “hold” rating and set a $19.00 target price on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 target price on General Electric and gave the company a “sell” rating in a report on Monday, October 23rd. Finally, Goldman Sachs Group set a $19.00 target price on General Electric and gave the company a “neutral” rating in a report on Thursday, November 30th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $23.39.
In other General Electric news, Director Steven M. Mollenkopf acquired 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John Leonard Flannery acquired 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 120,500 shares of company stock valued at $2,183,220. Insiders own 0.36% of the company’s stock.
General Electric Company (GE) traded up $0.26 during trading hours on Wednesday, hitting $17.91. The company had a trading volume of 66,832,300 shares, compared to its average volume of 45,339,199. General Electric Company has a 12-month low of $17.46 and a 12-month high of $32.38. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The firm has a market capitalization of $153,062.30, a PE ratio of 14.23, a PEG ratio of 1.91 and a beta of 1.06.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period in the prior year, the business posted $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. sell-side analysts forecast that General Electric Company will post 1.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.68%. General Electric’s dividend payout ratio is presently 120.00%.
About General Electric
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