Asset Dedication LLC grew its stake in General Electric (NYSE:GE) by 23.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,184 shares of the conglomerate’s stock after buying an additional 6,268 shares during the period. Asset Dedication LLC’s holdings in General Electric were worth $464,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. HC Financial Advisors Inc. acquired a new position in General Electric in the 4th quarter worth about $281,000. Centaurus Financial Inc. grew its position in shares of General Electric by 64.6% in the 1st quarter. Centaurus Financial Inc. now owns 46,866 shares of the conglomerate’s stock valued at $632,000 after buying an additional 18,387 shares during the last quarter. Engineers Gate Manager LP grew its position in shares of General Electric by 290.1% in the 1st quarter. Engineers Gate Manager LP now owns 329,071 shares of the conglomerate’s stock valued at $4,436,000 after buying an additional 244,711 shares during the last quarter. Montag A & Associates Inc. grew its position in shares of General Electric by 24.9% in the 1st quarter. Montag A & Associates Inc. now owns 200,513 shares of the conglomerate’s stock valued at $2,703,000 after buying an additional 40,031 shares during the last quarter. Finally, Synovus Financial Corp grew its position in shares of General Electric by 11.4% in the 1st quarter. Synovus Financial Corp now owns 998,492 shares of the conglomerate’s stock valued at $13,454,000 after buying an additional 102,422 shares during the last quarter. Institutional investors and hedge funds own 53.81% of the company’s stock.
In other news, SVP Alexander Dimitrief purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average cost of $9.48 per share, with a total value of $94,800.00. Following the purchase, the senior vice president now owns 103,075 shares in the company, valued at $977,151. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average cost of $9.73 per share, for a total transaction of $2,189,250.00. The disclosure for this purchase can be found here. 1.12% of the stock is currently owned by corporate insiders.
Shares of General Electric stock opened at $8.58 on Friday. General Electric has a one year low of $8.15 and a one year high of $20.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66. The stock has a market cap of $79.88 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 2.47 and a beta of 0.95.
General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business had revenue of $29.57 billion for the quarter, compared to the consensus estimate of $30.08 billion. During the same quarter in the previous year, the company earned $0.29 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts expect that General Electric will post 0.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date was Friday, September 14th. General Electric’s dividend payout ratio (DPR) is currently 45.71%.
A number of research firms have commented on GE. UBS Group lowered General Electric to an “add” rating and set a $23.00 price target on the stock. in a research report on Tuesday, October 2nd. Cowen reiterated a “hold” rating and issued a $14.50 price target on shares of General Electric in a research report on Monday, October 1st. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of General Electric in a research report on Tuesday, July 24th. Deutsche Bank set a $15.00 price target on General Electric and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, Gabelli reiterated a “buy” rating on shares of General Electric in a research report on Wednesday, July 18th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $14.72.
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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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