Domani Wealth LLC increased its stake in General Electric (NYSE:GE) by 21.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,049 shares of the conglomerate’s stock after buying an additional 4,803 shares during the period. Domani Wealth LLC’s holdings in General Electric were worth $368,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. HC Financial Advisors Inc. purchased a new position in General Electric in the fourth quarter valued at about $281,000. Wealthsource Partners LLC grew its stake in General Electric by 41.5% in the fourth quarter. Wealthsource Partners LLC now owns 85,175 shares of the conglomerate’s stock valued at $1,486,000 after purchasing an additional 24,989 shares in the last quarter. Banco de Sabadell S.A purchased a new position in General Electric in the fourth quarter valued at about $4,421,000. Slow Capital Inc. purchased a new position in General Electric in the fourth quarter valued at about $414,000. Finally, Woodard & Co. Asset Management Group Inc. ADV purchased a new position in General Electric in the fourth quarter valued at about $622,000. 53.74% of the stock is currently owned by institutional investors.
Shares of NYSE:GE opened at $12.32 on Friday. General Electric has a twelve month low of $11.21 and a twelve month high of $23.84. The company has a market cap of $98.03 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that General Electric will post 0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 3.90%. General Electric’s payout ratio is 45.71%.
Several analysts have recently issued reports on the company. Goldman Sachs Group reiterated a “neutral” rating and set a $14.00 price target on shares of General Electric in a research note on Wednesday, June 27th. Royal Bank of Canada set a $15.00 price target on General Electric and gave the stock a “neutral” rating in a research note on Wednesday, July 11th. Barclays reiterated a “neutral” rating and set a $16.00 price target on shares of General Electric in a research note on Monday, July 9th. Deutsche Bank set a $15.00 price target on General Electric and gave the stock a “hold” rating in a research note on Thursday, July 12th. Finally, MED upgraded General Electric from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a research note on Thursday, July 12th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.26.
In other General Electric news, Director H Lawrence Culp, Jr. bought 191,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was purchased at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.12% of the stock is owned by corporate insiders.
General Electric Company Profile
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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