General Electric Company (GE) Position Increased by Destination Wealth Management

Destination Wealth Management increased its holdings in shares of General Electric Company (NYSE:GE) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 775,177 shares of the conglomerate’s stock after purchasing an additional 41,100 shares during the quarter. General Electric accounts for approximately 1.4% of Destination Wealth Management’s portfolio, making the stock its 24th biggest position. Destination Wealth Management owned about 1.14% of General Electric worth $20,938,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Warren Averett Asset Management LLC boosted its stake in shares of 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 period. Sabal Trust CO boosted its stake in shares of General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after buying an additional 55,049 shares during the period. Rockland Trust Co. boosted its stake in shares of 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 period. Stoneridge Investment Partners LLC lifted its stake in General Electric by 23.4% during the second 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 during the last quarter. Finally, Rothschild Investment Corp IL lifted its stake in General Electric by 2.4% during the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock worth $12,569,000 after purchasing an additional 10,906 shares during the last quarter. 55.74% of the stock is owned by hedge funds and other institutional investors.

In related news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on the company. Vetr cut General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a research note on Monday, September 25th. Goldman Sachs Group set a $19.00 target price on General Electric and gave the stock a “neutral” rating in a research note on Thursday, November 30th. Cowen restated a “hold” rating and set a $19.00 target price on shares of General Electric in a research note on Wednesday, November 8th. Deutsche Bank set a $21.00 target price on General Electric and gave the stock a “sell” rating in a research note on Monday, October 23rd. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a research note on Thursday, September 21st. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and an average price target of $23.64.

General Electric Company (NYSE:GE) traded up $0.05 on Friday, reaching $17.71. The company’s stock had a trading volume of 55,584,700 shares, compared to its average volume of 45,155,160. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market capitalization of $153,149.02, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. General Electric Company has a one year low of $17.46 and a one year high of $32.38.

General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. equities analysts anticipate that General Electric Company will post 1.07 EPS for the current fiscal year.

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General Electric Company Profile

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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