Frontier Wealth Management LLC reduced its position in General Electric Company (NYSE:GE) by 4.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,194 shares of the conglomerate’s stock after selling 7,194 shares during the quarter. Frontier Wealth Management LLC owned approximately 0.23% of General Electric worth $4,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the first quarter worth $106,000. Ffcm LLC bought a new position in shares of General Electric in the second quarter worth $114,000. PHH Investments Ltd. boosted its holdings in shares of 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 acquiring an additional 2,000 shares during the period. Tuttle Tactical Management LLC bought a new position in shares of General Electric in the second quarter worth $209,000. Finally, Oakmont Partners LLC boosted its holdings in shares of 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 acquiring an additional 278 shares during the period. 55.74% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently commented on GE shares. J P Morgan Chase & Co reaffirmed an “underweight” rating and issued a $22.00 price target on shares of General Electric in a report on Thursday, September 7th. Deutsche Bank reaffirmed a “sell” rating and issued a $21.00 price target (down from $24.00) on shares of General Electric in a report on Monday, September 11th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a report on Wednesday, September 13th. Royal Bank Of Canada reissued a “buy” rating and set a $31.00 price objective on shares of General Electric in a research note on Friday, September 15th. Finally, Argus dropped their price objective on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $23.64.
Shares of General Electric Company (NYSE:GE) opened at $17.71 on Friday. General Electric Company has a 12-month low of $17.46 and a 12-month high of $32.38. 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 $153,582.61, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts forecast that General Electric Company will post 1.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.71%. General Electric’s dividend payout ratio is currently 120.00%.
In related news, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman John Leonard Flannery acquired 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last quarter, insiders bought 120,500 shares of company stock worth $2,183,220. Company insiders own 0.36% of the company’s stock.
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About General Electric
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