Pettyjohn Wood & White Inc. grew its holdings in General Electric (NYSE:GE) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,781 shares of the conglomerate’s stock after purchasing an additional 2,225 shares during the quarter. Pettyjohn Wood & White Inc.’s holdings in General Electric were worth $512,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in General Electric by 49.4% during the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock worth $4,499,762,000 after acquiring an additional 148,979,851 shares during the last quarter. Harris Associates L P boosted its stake in General Electric by 35.1% during the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock worth $921,903,000 after acquiring an additional 31,634,318 shares during the last quarter. Geode Capital Management LLC boosted its stake in General Electric by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 102,022,630 shares of the conglomerate’s stock worth $770,919,000 after acquiring an additional 6,235,071 shares during the last quarter. Northern Trust Corp boosted its stake in General Electric by 0.8% during the 4th quarter. Northern Trust Corp now owns 101,447,654 shares of the conglomerate’s stock worth $767,959,000 after acquiring an additional 763,673 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in General Electric by 7.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock worth $755,819,000 after acquiring an additional 7,194,723 shares during the last quarter. 57.49% of the stock is currently owned by institutional investors.
GE traded up $0.78 during trading on Friday, reaching $8.79. The company had a trading volume of 248,579,300 shares, compared to its average volume of 64,566,920. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The business’s fifty day moving average price is $10.05 and its 200 day moving average price is $9.97. The company has a market cap of $78.81 billion, a P/E ratio of 13.52, a PEG ratio of 1.95 and a beta of 1.03.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 0.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s payout ratio is currently 6.15%.
In other General Electric news, insider L Kevin Cox acquired 105,600 shares of the stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $9.42 per share, for a total transaction of $994,752.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction that occurred 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 sale, the director now owns 25,000 shares in the company, valued at $250,500. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 784,568 shares of company stock worth $6,815,745. Insiders own 1.13% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective on the stock. in a research note on Friday, August 2nd. Deutsche Bank set a $10.00 price objective on shares of General Electric and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Cowen reissued a “hold” rating and set a $8.00 price objective on shares of General Electric in a research note on Wednesday, May 1st. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Friday. Finally, William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. General Electric presently has an average rating of “Hold” and a consensus target price of $11.68.
General Electric Company 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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