Glassman Wealth Services grew its holdings in shares of General Electric (NYSE:GE) by 59.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,965 shares of the conglomerate’s stock after buying an additional 6,693 shares during the quarter. Glassman Wealth Services’ holdings in General Electric were worth $244,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GE. Archford Capital Strategies LLC purchased a new position in General Electric in the 1st quarter worth $121,000. Fusion Family Wealth LLC grew its position in General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in General Electric during the 1st quarter worth about $116,000. Blue Chip Wealth Management Inc. acquired a new stake in General Electric during the 1st quarter worth about $135,000. Finally, Todd Asset Management LLC acquired a new stake in General Electric during the 1st quarter worth about $137,000. 54.25% of the stock is currently owned by institutional investors.
GE has been the topic of several analyst reports. Citigroup set a $21.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, October 1st. UBS Group cut their price target on General Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 5th. JPMorgan Chase & Co. restated a “sell” rating and set a $10.00 target price on shares of General Electric in a research report on Thursday, October 25th. Bank of America set a $16.00 target price on General Electric and gave the company a “hold” rating in a research report on Monday, September 24th. Finally, Morningstar set a $15.70 target price on General Electric and gave the company a “buy” rating in a research report on Monday, August 13th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Electric presently has an average rating of “Hold” and an average target price of $14.09.
In other news, Director Francisco Dsouza purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average cost of $8.32 per share, with a total value of $499,200.00. Following the completion of the acquisition, the director now directly owns 151,500 shares of the company’s stock, valued at approximately $1,260,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. Insiders bought 295,000 shares of company stock valued at $2,783,250 over the last ninety days. Corporate insiders own 1.12% of the company’s stock.
Shares of GE stock traded up $0.16 on Thursday, reaching $7.81. 84,408,003 shares of the stock were exchanged, compared to its average volume of 173,506,112. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03. The company has a market cap of $66.42 billion, a P/E ratio of 7.44, a PEG ratio of 2.17 and a beta of 0.95. General Electric has a twelve month low of $7.53 and a twelve month high of $19.39.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. During the same period last year, the firm earned $0.29 earnings per share. General Electric’s revenue was down 3.6% on a year-over-year basis. On average, equities analysts forecast that General Electric will post 0.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.15%. General Electric’s payout ratio is 45.71%.
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About General Electric
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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