ProVise Management Group LLC raised its position in General Electric (NYSE:GE) by 7.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 366,693 shares of the conglomerate’s stock after acquiring an additional 24,727 shares during the period. General Electric comprises 1.3% of ProVise Management Group LLC’s portfolio, making the stock its 16th biggest position. ProVise Management Group LLC’s holdings in General Electric were worth $8,866,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ffcm LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $114,000. MPS Loria Financial Planners LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $113,000. Corbenic Partners LLC increased its position in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of General Electric during the 2nd quarter worth approximately $209,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.
General Electric (NYSE:GE) opened at $15.05 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09. General Electric has a 1-year low of $14.23 and a 1-year high of $30.59. The company has a market capitalization of $130,510.00, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The firm had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. equities research analysts predict that General Electric will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is 44.44%.
In other news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 58,870 shares of company stock worth $1,049,050. Insiders own 0.36% of the company’s stock.
Several research analysts have weighed in on the company. Citigroup set a $28.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research report on Wednesday, January 10th. Royal Bank of Canada lowered General Electric from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Deutsche Bank decreased their target price on General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a report on Tuesday, November 21st. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $19.86.
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About General Electric
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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