Heritage Wealth Advisors boosted its stake in General Electric (NYSE:GE) by 13.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,789 shares of the conglomerate’s stock after purchasing an additional 3,000 shares during the period. Heritage Wealth Advisors’ holdings in General Electric were worth $187,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of GE. FMR LLC grew its stake in shares of General Electric by 158.6% in the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after purchasing an additional 126,169,069 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of General Electric by 272.9% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 234,715 shares of the conglomerate’s stock valued at $1,332,000 after purchasing an additional 171,777 shares during the last quarter. Putnam Investments LLC grew its stake in shares of General Electric by 9.4% in the 2nd quarter. Putnam Investments LLC now owns 3,861,348 shares of the conglomerate’s stock valued at $52,553,000 after purchasing an additional 331,165 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of General Electric by 10.0% in the 2nd quarter. Mutual Advisors LLC now owns 67,023 shares of the conglomerate’s stock valued at $912,000 after purchasing an additional 6,074 shares during the last quarter. Finally, Highlander Capital Management LLC grew its stake in shares of General Electric by 20.3% in the 2nd quarter. Highlander Capital Management LLC now owns 244,281 shares of the conglomerate’s stock valued at $3,325,000 after purchasing an additional 41,250 shares during the last quarter. 56.86% of the stock is owned by institutional investors and hedge funds.
In other news, insider Russell Stokes sold 49,904 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.
Several research analysts have weighed in on the company. Royal Bank of Canada set a $12.00 target price on General Electric and gave the company a “buy” rating in a research note on Monday. Credit Suisse Group reiterated a “neutral” rating and issued a $11.00 target price on shares of General Electric in a research note on Friday, March 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $6.00 target price on shares of General Electric in a research note on Wednesday, March 6th. Gordon Haskett downgraded General Electric to an “underperform” rating and set a $7.00 target price on the stock. in a research note on Wednesday, March 6th. Finally, Barclays lifted their target price on General Electric from $12.00 to $13.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $12.44.
GE opened at $10.20 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. The company has a market capitalization of $86.48 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.40 and a beta of 0.99. General Electric has a 12 month low of $6.66 and a 12 month high of $15.59.
General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. The company had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion. As a group, research analysts forecast that General Electric will post 0.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.39%. General Electric’s dividend payout ratio (DPR) is 6.15%.
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General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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