NS Partners Ltd Has $8.57 Million Position in General Electric Company (GE)
NS Partners Ltd increased its position in shares of General Electric Company (NYSE:GE) by 41.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 287,502 shares of the conglomerate’s stock after buying an additional 84,770 shares during the period. NS Partners Ltd’s holdings in General Electric were worth $8,568,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. Freestone Capital Holdings LLC raised its stake in General Electric by 58.6% in the fourth quarter. Freestone Capital Holdings LLC now owns 18,081 shares of the conglomerate’s stock worth $571,000 after buying an additional 6,679 shares during the period. SRS Capital Advisors Inc. bought a new stake in General Electric during the fourth quarter worth $435,000. Cheviot Value Management LLC bought a new stake in General Electric during the fourth quarter worth $208,000. Discovery Capital Management LLC CT bought a new stake in General Electric during the fourth quarter worth $29,719,000. Finally, Glassman Wealth Services raised its stake in General Electric by 9.6% in the fourth quarter. Glassman Wealth Services now owns 48,699 shares of the conglomerate’s stock worth $1,539,000 after buying an additional 4,250 shares during the period. 54.29% of the stock is owned by hedge funds and other institutional investors.
Shares of General Electric Company (NYSE GE) traded down 0.40% during trading on Friday, hitting $25.20. The stock had a trading volume of 19,217,278 shares. The stock has a 50-day moving average price of $26.28 and a 200 day moving average price of $28.52. The company has a market cap of $218.18 billion, a P/E ratio of 30.69 and a beta of 1.21. General Electric Company has a 12 month low of $25.19 and a 12 month high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. Equities analysts expect that General Electric Company will post $1.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
A number of equities analysts recently commented on the company. Cowen and Company restated a “hold” rating and set a $30.00 target price on shares of General Electric in a report on Thursday, April 20th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $30.43 target price for the company. in a report on Friday, April 14th. Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Bank of America Corporation downgraded General Electric from a “buy” rating to a “neutral” rating and decreased their target price for the company from $35.00 to $31.00 in a report on Tuesday, April 25th. Finally, Argus decreased their target price on General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $30.08.
In related news, Chairman Jeffrey R. Immelt purchased 100,000 shares of General Electric stock in a transaction dated Monday, May 15th. The stock was purchased at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the transaction, the chairman now owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last three months, insiders bought 253,253 shares of company stock valued at $6,770,864. Corporate insiders own 0.36% of the company’s stock.
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