Duff & Phelps Investment Management Co. increased its position in shares of General Electric (NYSE:GE) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,278 shares of the conglomerate’s stock after buying an additional 3,100 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in General Electric were worth $1,000,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ashburton Jersey Ltd purchased a new stake in shares of General Electric in the second quarter worth approximately $25,000. Employers Holdings Inc. bought a new position in shares of General Electric during the second quarter valued at approximately $28,000. Manchester Financial Inc. bought a new position in shares of General Electric during the second quarter valued at approximately $30,000. Lenox Wealth Advisors LLC boosted its stake in shares of General Electric by 3,735.0% during the second quarter. Lenox Wealth Advisors LLC now owns 3,835 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 3,735 shares in the last quarter. Finally, Arbor Wealth Management LLC bought a new position in shares of General Electric during the fourth quarter valued at approximately $30,000. 57.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GE traded up $0.78 on Friday, hitting $8.79. 248,579,300 shares of the company were exchanged, compared to its average volume of 64,566,920. General Electric has a 1-year low of $6.66 and a 1-year high of $13.78. The stock’s 50 day moving average price is $10.05 and its 200 day moving average price is $9.97. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $78.81 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.95 and a beta of 1.03.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The business had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 0.64 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were paid a dividend of $0.01 per share. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. General Electric’s payout ratio is currently 6.15%.
In related news, Director Edward P. Garden sold 1,289,538 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the completion of the transaction, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edward P. Garden sold 3,370,314 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. Insiders have bought 784,568 shares of company stock valued at $6,815,745 over the last quarter. Insiders own 1.13% of the company’s stock.
Several equities research analysts have weighed in on the stock. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Citigroup set a $14.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, June 19th. Cowen restated a “hold” rating and issued a $8.00 target price on shares of General Electric in a research note on Wednesday, May 1st. Zacks Investment Research downgraded shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Friday, August 2nd. Finally, Deutsche Bank set a $10.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $11.68.
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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