440 Investment Group LLC lifted its position in General Electric Company (NYSE:GE) by 118.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,260 shares of the conglomerate’s stock after acquiring an additional 26,660 shares during the quarter. General Electric accounts for approximately 1.1% of 440 Investment Group LLC’s investment portfolio, making the stock its 24th largest holding. 440 Investment Group LLC’s holdings in General Electric were worth $1,331,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GE. Ullmann Financial Group Inc. bought a new position in General Electric in the first quarter worth about $106,000. PHH Investments Ltd. raised its holdings in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares in the last quarter. Oakmont Partners LLC raised its holdings in General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in General Electric by 25.2% in the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock worth $218,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Barber Financial Group Inc. raised its holdings in General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.
General Electric Company (NYSE:GE) opened at $18.21 on Friday. 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 $158,270.00, a P/E ratio of 14.43, a PEG ratio of 1.95 and a beta of 1.11. General Electric Company has a 52 week low of $17.46 and a 52 week high of $32.38.
General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. research analysts anticipate that General Electric Company will post 1.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Friday, September 15th. General Electric’s payout ratio is 111.63%.
A number of equities research analysts have recently weighed in on GE shares. Stifel Nicolaus restated a “buy” rating and set a $26.00 price target on shares of General Electric in a research note on Thursday, October 12th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price target (down previously from $27.00) on shares of General Electric in a research note on Monday, July 24th. J P Morgan Chase & Co dropped their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Vetr upgraded General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price target on the stock in a research note on Tuesday, October 10th. Finally, Citigroup Inc. set a $25.00 price target on General Electric and gave the stock a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $24.84.
In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman John Leonard Flannery bought 60,000 shares of General Electric stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 165,500 shares of company stock valued at $3,652,520. Corporate insiders own 0.36% of the company’s stock.
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