Fusion Family Wealth LLC raised its position in General Electric (NYSE:GE) by 153.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,264 shares of the conglomerate’s stock after buying an additional 5,002 shares during the period. Fusion Family Wealth LLC’s holdings in General Electric were worth $112,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Buckley Wealth Management LLC raised its stake in General Electric by 1.3% during the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after buying an additional 3,575 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in General Electric by 28.1% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock worth $221,000 after buying an additional 3,600 shares during the period. Legacy Advisors LLC raised its stake in General Electric by 16.3% during the 2nd quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock worth $356,000 after buying an additional 3,669 shares during the period. Home Federal Bank of Tennessee raised its stake in General Electric by 7.4% during the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock worth $725,000 after buying an additional 3,675 shares during the period. Finally, Advisors Capital Management LLC raised its stake in General Electric by 7.6% during the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock worth $711,000 after buying an additional 3,714 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.
GE opened at $12.32 on Friday. General Electric has a 1 year low of $11.21 and a 1 year high of $23.84. The stock has a market capitalization of $98.03 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 2.14 and a beta of 0.97. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter last year, the business posted $0.21 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts expect that General Electric will post 0.96 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s dividend payout ratio is 45.71%.
Several brokerages recently commented on GE. Gordon Haskett began coverage on General Electric in a research note on Friday. They set a “sell” rating on the stock. Credit Suisse Group began coverage on General Electric in a research note on Friday. They set a “neutral” rating and a $14.00 price objective on the stock. UBS Group downgraded General Electric to an “add” rating and set a $23.00 price objective on the stock. in a research note on Tuesday, October 2nd. Cowen reaffirmed a “hold” rating and set a $14.50 price objective on shares of General Electric in a research note on Monday, October 1st. Finally, MED raised General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective on the stock in a research note on Thursday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.26.
In other news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were purchased at an average price of $13.04 per share, with a total value of $2,490,640.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.12% of the company’s stock.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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