Amalgamated Bank Has $35.54 Million Position in General Electric (NYSE:GE)

Amalgamated Bank reduced its stake in General Electric (NYSE:GE) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,554 shares of the conglomerate’s stock after selling 557 shares during the period. Amalgamated Bank’s holdings in General Electric were worth $35,538,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Macroview Investment Management LLC boosted its holdings in shares of General Electric by 37.9% in the 2nd quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock worth $34,000 after buying an additional 58 shares during the last quarter. Allegheny Financial Group LTD boosted its holdings in shares of General Electric by 1.4% in the 2nd quarter. Allegheny Financial Group LTD now owns 4,489 shares of the conglomerate’s stock worth $714,000 after buying an additional 61 shares during the last quarter. New England Research & Management Inc. raised its stake in General Electric by 2.2% in the 2nd quarter. New England Research & Management Inc. now owns 2,910 shares of the conglomerate’s stock valued at $463,000 after acquiring an additional 63 shares during the period. Argent Trust Co raised its stake in General Electric by 0.6% in the 2nd quarter. Argent Trust Co now owns 10,737 shares of the conglomerate’s stock valued at $1,707,000 after acquiring an additional 64 shares during the period. Finally, Choate Investment Advisors raised its stake in General Electric by 0.4% in the 1st quarter. Choate Investment Advisors now owns 16,000 shares of the conglomerate’s stock valued at $2,808,000 after acquiring an additional 65 shares during the period. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. Barclays boosted their price objective on General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Company boosted their price objective on General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Sanford C. Bernstein assumed coverage on General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Finally, StockNews.com cut General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus price target of $191.14.

General Electric Stock Down 0.6 %

GE stock opened at $180.32 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $167.28 and its 200 day moving average is $170.87. The stock has a market cap of $197.38 billion, a price-to-earnings ratio of 59.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a 1-year low of $84.42 and a 1-year high of $182.43.

General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 earnings per share. Sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio (DPR) is 36.72%.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.