Palouse Capital Management Inc. raised its holdings in General Electric (NYSE:GE) by 5.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 190,591 shares of the conglomerate’s stock after buying an additional 9,755 shares during the quarter. General Electric accounts for about 1.5% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Palouse Capital Management Inc.’s holdings in General Electric were worth $4,608,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares during the last quarter. Warren Averett Asset Management LLC grew its holdings in General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the last quarter. Destination Wealth Management grew its holdings in General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares during the last quarter. Rockland Trust Co. grew its holdings in General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after buying an additional 16,309 shares during the last quarter. Finally, Stoneridge Investment Partners LLC grew its holdings in shares of General Electric by 23.4% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 325,787 shares of the conglomerate’s stock worth $8,800,000 after purchasing an additional 61,746 shares in the last quarter. 55.63% of the stock is currently owned by hedge funds and other institutional investors.
General Electric (NYSE:GE) opened at $18.76 on Friday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $162,688.31, a P/E ratio of 15.13, a P/E/G ratio of 2.11 and a beta of 1.07. General Electric has a 52-week low of $17.25 and a 52-week high of $31.45.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. analysts forecast that General Electric will post 1.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.56%. General Electric’s dividend payout ratio (DPR) is presently 60.00%.
In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was acquired at an average price of $18.24 per share, with a total value of $100,320.00. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock valued at $2,183,220 in the last 90 days. 0.36% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on GE. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a report on Wednesday. JPMorgan Chase & Co. reissued a “sell” rating and set a $16.00 price objective (down previously from $17.00) on shares of General Electric in a report on Monday, January 8th. Tigress Financial reissued a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Stifel Nicolaus set a $18.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Monday, December 11th. Finally, Goldman Sachs Group set a $19.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $23.19.
General Electric Company Profile
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