YorkBridge Wealth Partners LLC grew its holdings in shares of General Electric Company (NYSE:GE) by 1.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 98,641 shares of the conglomerate’s stock after purchasing an additional 1,232 shares during the period. General Electric makes up approximately 1.4% of YorkBridge Wealth Partners LLC’s holdings, making the stock its 14th largest position. YorkBridge Wealth Partners LLC owned approximately 0.15% of General Electric worth $2,708,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares during the last quarter. BlackRock Inc. raised its holdings in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares during the last quarter. Franklin Resources Inc. raised its holdings in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares during the last quarter. Trian Fund Management L.P. raised its holdings in General Electric by 2.7% in the 2nd quarter. Trian Fund Management L.P. now owns 70,851,055 shares of the conglomerate’s stock worth $1,913,687,000 after acquiring an additional 1,874,000 shares during the last quarter. Finally, Harris Associates L P raised its holdings in General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after acquiring an additional 9,681,420 shares during the last quarter. Hedge funds and other institutional investors own 55.74% of the company’s stock.
In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction dated 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 owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. In the last three months, insiders have bought 120,500 shares of company stock valued at $2,183,220. Insiders own 0.36% of the company’s stock.
Shares of General Electric Company (NYSE:GE) traded down $0.05 during mid-day trading on Monday, hitting $17.67. 22,361,785 shares of the stock were exchanged, compared to its average volume of 45,194,363. General Electric Company has a 12-month low of $17.46 and a 12-month high of $32.38. 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 company has a market cap of $153,582.61, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the previous year, the firm earned $0.32 EPS. The company’s revenue was up 11.5% on a year-over-year basis. sell-side analysts expect that General Electric Company will post 1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s payout ratio is 120.00%.
A number of equities research analysts have weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $18.00 target price on shares of General Electric in a research note on Monday. Vetr lowered shares of 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 shares of General Electric and gave the company a “neutral” rating in a research note on Thursday, November 30th. Cowen reiterated a “hold” rating and set a $19.00 target price on shares of General Electric in a research note on Wednesday, November 8th. Finally, Deutsche Bank set a $21.00 target price on shares of General Electric and gave the company a “sell” rating in a research note on Monday, October 23rd. Six research 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 stock. The company presently has an average rating of “Hold” and an average target price of $23.39.
About General Electric
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.