Taylor Hoffman Wealth Management lifted its holdings in General Electric (NYSE:GE) by 12.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,551 shares of the conglomerate’s stock after buying an additional 4,101 shares during the period. Taylor Hoffman Wealth Management’s holdings in General Electric were worth $336,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GE. Whitnell & Co. raised its holdings in General Electric by 140.9% during the 3rd quarter. Whitnell & Co. now owns 20,409 shares of the conglomerate’s stock valued at $182,000 after acquiring an additional 11,937 shares during the period. Lenox Wealth Management Inc. raised its holdings in General Electric by 54.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 12,059 shares of the conglomerate’s stock valued at $107,000 after acquiring an additional 4,232 shares during the period. BigSur Wealth Management LLC raised its holdings in General Electric by 4.0% during the 3rd quarter. BigSur Wealth Management LLC now owns 51,650 shares of the conglomerate’s stock valued at $462,000 after acquiring an additional 2,000 shares during the period. Principle Wealth Partners LLC bought a new stake in General Electric during the 3rd quarter valued at $1,269,000. Finally, Brasada Capital Management LP raised its holdings in General Electric by 2.0% during the 3rd quarter. Brasada Capital Management LP now owns 102,901 shares of the conglomerate’s stock valued at $920,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 58.97% of the company’s stock.
NYSE:GE traded up $0.23 during midday trading on Friday, hitting $11.52. The company had a trading volume of 61,022,582 shares, compared to its average volume of 60,476,536. General Electric has a 52-week low of $6.66 and a 52-week high of $11.75. The stock’s fifty day moving average price is $9.25 and its 200-day moving average price is $9.58. The company has a market capitalization of $100.61 billion, a PE ratio of 17.72, a P/E/G ratio of 2.46 and a beta of 1.13. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the business earned $0.14 earnings per share. The firm’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that General Electric will post 0.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 annualized dividend and a yield of 0.35%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In related news, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie Seidman bought 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $7.80 per share, with a total value of $50,700.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $50,700. The disclosure for this purchase can be found here. Insiders purchased 801,068 shares of company stock valued at $6,954,745 over the last quarter. 1.13% of the stock is owned by company insiders.
Several research firms have recently weighed in on GE. Morgan Stanley began coverage on shares of General Electric in a report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $13.00 price target on shares of General Electric in a report on Wednesday, October 30th. Credit Suisse Group reaffirmed a “hold” rating and issued a $10.00 price target on shares of General Electric in a report on Monday, November 4th. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target on the stock in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. set a $5.00 price target on shares of General Electric and gave the stock an “underweight” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $10.41.
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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