Smith Chas P & Associates PA Cpas Acquires 9,510 Shares of General Electric (GE)

Smith Chas P & Associates PA Cpas boosted its holdings in General Electric (NYSE:GE) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 912,165 shares of the conglomerate’s stock after acquiring an additional 9,510 shares during the period. General Electric comprises about 3.1% of Smith Chas P & Associates PA Cpas’ investment portfolio, making the stock its 12th biggest holding. Smith Chas P & Associates PA Cpas’ holdings in General Electric were worth $22,056,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Toronto Dominion Bank raised its holdings in shares of General Electric by 21.3% during the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares during the last quarter. Warren Averett Asset Management LLC raised its holdings in shares of General Electric by 7.0% during the second quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the last quarter. Palouse Capital Management Inc. raised its holdings in shares of General Electric by 5.4% during the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after buying an additional 9,755 shares during the last quarter. Destination Wealth Management raised its holdings in shares of General Electric by 5.6% during the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares during the last quarter. Finally, Rockland Trust Co. raised its holdings in shares of General Electric by 8.6% during the second quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after buying an additional 16,309 shares during the last quarter. 55.64% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, with a total value of $986,700.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman John Leonard Flannery acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by company insiders.

General Electric (GE) opened at $17.35 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market cap of $150,460.00, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. General Electric has a 12-month low of $17.25 and a 12-month high of $31.34.

General Electric (NYSE:GE) last posted its quarterly 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). The business had revenue of $33.47 billion during 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 quarter last year, the firm posted $0.32 EPS. equities analysts forecast that General Electric will post 1.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.77%. General Electric’s dividend payout ratio (DPR) is 55.81%.

GE has been the topic of a number of recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $26.00 price target on shares of General Electric in a report on Thursday, October 12th. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Citigroup set a $28.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar reiterated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.94.

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General Electric Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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