Concorde Asset Management LLC lifted its position in General Electric (NYSE:GE) by 43.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,193 shares of the conglomerate’s stock after buying an additional 5,855 shares during the period. Concorde Asset Management LLC’s holdings in General Electric were worth $465,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Goelzer Investment Management Inc. raised its position in shares of General Electric by 312.8% during the third quarter. Goelzer Investment Management Inc. now owns 127,339 shares of the conglomerate’s stock worth $3,079,000 after purchasing an additional 96,491 shares during the period. Villere ST Denis J & Co. LLC acquired a new position in General Electric during the third quarter valued at $259,000. Parthenon LLC raised its position in General Electric by 2.5% during the third quarter. Parthenon LLC now owns 466,060 shares of the conglomerate’s stock valued at $11,269,000 after buying an additional 11,559 shares during the period. Berkshire Asset Management LLC PA raised its position in General Electric by 4.0% during the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after buying an additional 36,870 shares during the period. Finally, Summit Securities Group LLC acquired a new position in General Electric during the third quarter valued at $242,000. 55.44% of the stock is currently owned by institutional investors.
In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 124,370 shares of company stock valued at $2,245,570. 0.36% of the stock is currently owned by corporate insiders.
Shares of General Electric (GE) traded up $0.49 during midday trading on Friday, reaching $14.94. The company’s stock had a trading volume of 129,055,811 shares, compared to its average volume of 104,870,000. The stock has a market capitalization of $129,560.00, a P/E ratio of 13.83, a P/E/G ratio of 2.89 and a beta of 0.93. General Electric has a 1 year low of $14.23 and a 1 year high of $30.59. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 EPS. equities research analysts forecast that General Electric will post 0.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.21%. General Electric’s dividend payout ratio (DPR) is presently 44.44%.
Several research analysts recently weighed in on the company. Deutsche Bank reissued a “sell” rating and set a $13.00 price target (down from $15.00) on shares of General Electric in a research report on Thursday. Stifel Nicolaus dropped their price target on General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Credit Suisse Group reissued a “hold” rating and set a $16.00 price target on shares of General Electric in a research report on Tuesday, January 30th. Finally, DZ Bank reissued a “neutral” rating on shares of General Electric in a research report on Friday, January 26th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.31.
General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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