Doyle Wealth Management reduced its stake in shares of General Electric (NYSE:GE) by 49.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,167 shares of the conglomerate’s stock after selling 310,901 shares during the period. Doyle Wealth Management owned 0.46% of General Electric worth $7,645,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GE. Toronto Dominion Bank raised its holdings in shares of General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after acquiring an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC increased its position in shares of General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares during the last quarter. Destination Wealth Management increased its position in shares of General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after purchasing an additional 41,100 shares during the last quarter. Rockland Trust Co. increased its position in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after purchasing an additional 16,309 shares during the last quarter. Finally, Stoneridge Investment Partners LLC increased its position 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 valued at $8,800,000 after purchasing an additional 61,746 shares during the last quarter. 55.63% of the stock is currently owned by hedge funds and other institutional investors.
In other General Electric news, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by company insiders.
Shares of General Electric (NYSE:GE) opened at $18.76 on Friday. The company has a market capitalization of $162,690.00, a P/E ratio of 21.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. General Electric has a 1-year low of $17.25 and a 1-year high of $31.47. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. equities research analysts anticipate that General Electric will post 1.07 EPS for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.56%. General Electric’s payout ratio is 55.81%.
Several equities analysts have commented on GE shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of General Electric in a research report on Thursday, October 12th. Argus cut their price objective on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $31.00 target price on shares of General Electric in a report on Friday, September 15th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, October 23rd. Finally, Citigroup set a $28.00 target price on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.19.
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