Lantz Financial LLC Sells 241 Shares of General Electric (NYSE:GE)

Lantz Financial LLC trimmed its position in shares of General Electric (NYSE:GE) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,941 shares of the conglomerate’s stock after selling 241 shares during the period. Lantz Financial LLC’s holdings in General Electric were worth $323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GE. Northstar Group Inc. raised its stake in shares of General Electric by 2.9% in the first quarter. Northstar Group Inc. now owns 3,673 shares of the conglomerate’s stock worth $351,000 after buying an additional 104 shares during the period. WMS Partners LLC grew its position in shares of General Electric by 1.3% during the first quarter. WMS Partners LLC now owns 8,500 shares of the conglomerate’s stock worth $813,000 after purchasing an additional 109 shares in the last quarter. ZWJ Investment Counsel Inc. grew its position in shares of General Electric by 0.3% during the first quarter. ZWJ Investment Counsel Inc. now owns 43,634 shares of the conglomerate’s stock worth $4,171,000 after purchasing an additional 110 shares in the last quarter. HHM Wealth Advisors LLC grew its position in shares of General Electric by 2.9% during the first quarter. HHM Wealth Advisors LLC now owns 3,972 shares of the conglomerate’s stock worth $380,000 after purchasing an additional 113 shares in the last quarter. Finally, Sandy Spring Bank grew its position in shares of General Electric by 2.9% during the first quarter. Sandy Spring Bank now owns 4,044 shares of the conglomerate’s stock worth $387,000 after purchasing an additional 113 shares in the last quarter. 74.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several research analyst reports. Oppenheimer cut General Electric from an “outperform” rating to a “market perform” rating in a research report on Monday, July 31st. Bank of America raised their price target on General Electric from $108.00 to $120.00 in a report on Thursday, July 6th. Royal Bank of Canada raised their price objective on General Electric from $120.00 to $130.00 in a research note on Wednesday, July 26th. Wolfe Research raised their price objective on General Electric from $107.00 to $125.00 in a research note on Wednesday, June 28th. Finally, Morgan Stanley raised their price objective on General Electric from $122.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Insider Transactions at General Electric

In related news, major shareholder General Electric Pension Trust bought 35,160 shares of the stock in a transaction dated Friday, June 30th. The shares were purchased at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the completion of the purchase, the insider now directly owns 175,160 shares of the company’s stock, valued at $174,361,270.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Electric news, SVP Michael J. Holston sold 112,614 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.20, for a total transaction of $12,973,132.80. Following the transaction, the senior vice president now owns 57,923 shares in the company, valued at $6,672,729.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder General Electric Pension Trust purchased 35,160 shares of the stock in a transaction on Friday, June 30th. The shares were acquired at an average price of $995.44 per share, for a total transaction of $34,999,670.40. Following the transaction, the insider now directly owns 175,160 shares of the company’s stock, valued at approximately $174,361,270.40. The disclosure for this purchase can be found here. Company insiders own 0.67% of the company’s stock.

General Electric Stock Down 0.1 %

NYSE:GE traded down $0.06 during mid-day trading on Tuesday, hitting $116.51. 205,912 shares of the company’s stock traded hands, compared to its average volume of 6,099,819. The company has a fifty day moving average of $112.98 and a 200 day moving average of $104.05. General Electric has a twelve month low of $48.06 and a twelve month high of $117.96. The company has a market capitalization of $126.81 billion, a P/E ratio of 13.83, a P/E/G ratio of 7.21 and a beta of 1.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.25.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.22. The business had revenue of $15.85 billion for the quarter, compared to analyst estimates of $14.76 billion. General Electric had a return on equity of 9.30% and a net margin of 13.32%. The company’s revenue was up 18.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. On average, analysts forecast that General Electric will post 2.29 EPS for the current year.

General Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Tuesday, September 26th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, September 25th. General Electric’s dividend payout ratio is presently 3.80%.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.