General American Investors Co. Inc. lifted its position in General Electric (NYSE:GE) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 870,000 shares of the conglomerate’s stock after buying an additional 50,000 shares during the period. General Electric comprises 2.0% of General American Investors Co. Inc.’s holdings, making the stock its 17th largest position. General American Investors Co. Inc. owned 1.28% of General Electric worth $21,037,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in General Electric by 282.5% during the 1st quarter. Brighton Jones LLC now owns 99,667 shares of the conglomerate’s stock worth $2,970,000 after purchasing an additional 73,613 shares in the last quarter. Financial Advisors Network Inc. increased its holdings in General Electric by 1.2% during the 1st quarter. Financial Advisors Network Inc. now owns 26,483 shares of the conglomerate’s stock worth $747,000 after purchasing an additional 306 shares in the last quarter. Northern Oak Wealth Management Inc. increased its holdings in General Electric by 2.8% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 233,243 shares of the conglomerate’s stock worth $6,951,000 after purchasing an additional 6,462 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its holdings in General Electric by 6.4% during the 1st quarter. Lowe Brockenbrough & Co. Inc. now owns 380,692 shares of the conglomerate’s stock worth $11,345,000 after purchasing an additional 22,755 shares in the last quarter. Finally, Triangle Securities Wealth Management increased its holdings in General Electric by 2.2% during the 2nd quarter. Triangle Securities Wealth Management now owns 111,855 shares of the conglomerate’s stock worth $3,021,000 after purchasing an additional 2,395 shares in the last quarter. Institutional investors and hedge funds own 55.63% of the company’s stock.
Shares of General Electric (GE) opened at $18.93 on Thursday. General Electric has a one year low of $17.25 and a one year high of $31.52. The stock has a market cap of $164,080.00, a PE ratio of 22.01, a P/E/G ratio of 2.05 and a beta of 1.07. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts predict that General Electric will post 1.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.54%. General Electric’s dividend payout ratio (DPR) is currently 55.81%.
A number of equities analysts have issued reports on the company. Vetr cut General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a report on Monday, September 25th. Cowen restated a “hold” rating and issued a $19.00 price objective on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 price objective on General Electric and gave the company a “sell” rating in a report on Monday, October 23rd. Tigress Financial restated a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.19.
In other news, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the purchase, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock valued at $2,183,220 over the last quarter. 0.36% of the stock is currently owned by company insiders.
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