WealthPLAN Partners LLC lifted its position in General Electric (NYSE:GE) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,291 shares of the conglomerate’s stock after buying an additional 6,143 shares during the period. WealthPLAN Partners LLC’s holdings in General Electric were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of GE. Public Employees Retirement Association of Colorado boosted its position in shares of General Electric by 4.6% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,659,048 shares of the conglomerate’s stock worth $13,173,000 after purchasing an additional 72,905 shares during the period. First Trust Advisors LP increased its stake in General Electric by 51.0% in the 1st quarter. First Trust Advisors LP now owns 514,786 shares of the conglomerate’s stock worth $4,087,000 after buying an additional 173,891 shares in the last quarter. Bartlett & Co. LLC bought a new stake in General Electric during the first quarter valued at about $297,000. Dynamic Advisor Solutions LLC lifted its position in shares of General Electric by 6.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 71,325 shares of the conglomerate’s stock valued at $566,000 after acquiring an additional 4,057 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of General Electric by 2.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 103,554 shares of the conglomerate’s stock worth $822,000 after acquiring an additional 2,136 shares during the period. 59.95% of the stock is owned by institutional investors.
Shares of NYSE GE traded up $0.17 during mid-day trading on Wednesday, hitting $6.27. 3,072,641 shares of the company’s stock traded hands, compared to its average volume of 94,355,742. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.95. General Electric has a 1 year low of $5.48 and a 1 year high of $13.26. The company’s 50-day moving average is $6.39 and its two-hundred day moving average is $6.97. The company has a market capitalization of $53.40 billion, a P/E ratio of -10.60 and a beta of 0.91.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.06). The company had revenue of $17.75 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a positive return on equity of 7.94% and a negative net margin of 5.10%. The company’s revenue was down 38.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. Equities analysts anticipate that General Electric will post -0.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, September 28th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.04 annualized dividend and a yield of 0.64%. General Electric’s payout ratio is presently 6.15%.
In related news, Director Trian Fund Management, L.P. sold 15,569,158 shares of General Electric stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $6.14, for a total transaction of $95,594,630.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward P. Garden sold 3,264,481 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $6.09, for a total transaction of $19,880,689.29. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.
Several analysts recently issued reports on GE shares. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating and set a $7.50 target price on the stock. in a research note on Friday, June 12th. Bank of America reiterated a “buy” rating and set a $11.00 price objective on shares of General Electric in a research report on Monday, June 15th. TheStreet raised shares of General Electric from a “d+” rating to a “c-” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. reaffirmed a “fair value” rating on shares of General Electric in a research note on Monday, August 31st. Finally, Oppenheimer reiterated a “hold” rating on shares of General Electric in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $9.02.
General Electric Company 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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