General Electric Company (GE) Sees New 52-Week High

Paterniano Del Favero
Agosto 12, 2017

WARNING: "General Electric (NYSE:GE) Earning Somewhat Favorable News Coverage, Accern Reports" was published by Week Herald and is the sole property of of Week Herald.

Hedge funds have lately purchased or disposed their positions in the share. Foundry Partners LLC raised its position in shares of Portland General Electric by 3.3% in the first quarter. TNB Financial's holdings in General Electric were worth $10,349,000 as of its most recent SEC filing.

The following firms have also recently changed their position in GE. Jarislowsky Fraser Ltd increased its stake in General Electric by 5.5% in the fourth quarter.

Portland General Electric Company is an electric utility that is engaged in the wholesale purchase, transmission, distribution and retail sale of electricity in the State of Oregon. Renaissance Technologies LLC now owns 1,155,300 shares of the utilities provider's stock valued at $51,318,000 after buying an additional 248,300 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Portland General Electric by 3.4% in the first quarter. Dimensional Fund Advisors Lp now owns 21,242,178 shares with a value of $573,768,000. Renaissance Technologies LLC raised its position in shares of Portland General Electric by 27.4% in the first quarter. Smith Shellnut Wilson LLC ADV now owns 22,582 shares of the conglomerate's stock worth $711,000 after buying an additional 160 shares during the last quarter. Jarislowsky Fraser has an ownership of 4,075,563 stocks of the conglomerate's shares valued at $128,787,000 after scooping up an extra 211,742 shares through out the previous quarter, Discovery Capital Management CT purchased a fresh position in General Electric in Q4 which is worth at $29,719,000. Insiders own 0.36% of the company's stock.

General Electric Company (NYSE:GE) traded down 0.40% during trading on Friday, hitting $25.20. Company chares are trading at $25.20 just a bit lower than the 50 day moving average which is $26.28 and which is much lower than the 200 day moving average of $28.52.

The company now has a P/E ratio of 30.69 and market cap is 218.18B. The utilities provider reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by $0.08. The company had revenue of $449 million for the quarter, compared to analysts' expectations of $465.70 million. During the same period in the previous year, the firm posted $0.51 EPS. The company's revenue was up 4.9% on a year-over-year basis. Analysts predict that General Electric will post $1.57 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This dividend amount was represent a yeild of $3.73.

General Electric (GE) opened at 25.20 on Friday. Williams Capital cut shares of Portland General Electric from a "hold" rating to a "sell" rating and dropped their target price for the company from $44.00 to $41.00 in a report on Monday, July 24th. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of U.S. & worldwide copyright legislation. The legal version of this piece of content can be accessed at

On May 12 the company was downgraded from "Hold" to "Sell" in a report issued by Deutsche Bank. Lastly, J P Morgan Chase & Co restated an underweight recommendation and fixed a $22.00 price target (down from $27.00) on stocks of General Electric in a note on Thurs, Jul 6th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. General Electric's dividend payout ratio (DPR) is 118.52%.

In related news, insider William O. Nicholson sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 16th. Sr VP Alexander Dimitrief bought 1,845 shares at an average price of $25.62 on Monday the 24th. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of the company's stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $45.10, for a total value of $270,600.00. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this sale can be found here.

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