Clearstead Advisors LLC increased its position in General Electric (NYSE:GE) by 3.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 130,146 shares of the conglomerate’s stock after buying an additional 4,472 shares during the quarter. Clearstead Advisors LLC’s holdings in General Electric were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of GE. Ashburton Jersey Ltd bought a new stake in General Electric during the second quarter worth approximately $25,000. Employers Holdings Inc. acquired a new position in General Electric in the second quarter worth approximately $28,000. Fusion Family Wealth LLC grew its position in General Electric by 10,516.0% in the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after buying an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC acquired a new position in General Electric in the fourth quarter worth approximately $30,000. Finally, Manchester Financial Inc. acquired a new position in General Electric in the second quarter worth approximately $30,000. 59.32% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on GE shares. Morgan Stanley started coverage on shares of General Electric in a research report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price objective on the stock. Citigroup set a $14.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, September 4th. William Blair restated a “buy” rating on shares of General Electric in a report on Friday, August 16th. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $38.00 price objective on shares of General Electric in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.08.
In other General Electric news, Director Thomas W. Horton acquired 55,248 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the completion of the acquisition, the director now owns 55,248 shares in the company, valued at approximately $498,336.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider L Kevin Cox purchased 105,600 shares of General Electric stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of $9.42 per share, with a total value of $994,752.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 801,068 shares of company stock worth $6,954,745 in the last quarter. 1.13% of the stock is owned by corporate insiders.
GE stock traded down $0.02 during mid-day trading on Friday, hitting $9.25. The stock had a trading volume of 13,546,409 shares, compared to its average volume of 96,344,560. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. General Electric has a 52 week low of $6.66 and a 52 week high of $13.78. The firm has a market capitalization of $79.77 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.04 and a beta of 1.09. The firm has a fifty day simple moving average of $9.06 and a 200 day simple moving average of $9.75.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.05. The company had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. As a group, equities analysts expect that General Electric will post 0.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.43%. General Electric’s payout ratio is presently 6.15%.
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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