Davidson & Garrard Inc. raised its holdings in shares of General Electric (NYSE:GE) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 324,890 shares of the conglomerate’s stock after purchasing an additional 3,288 shares during the period. General Electric accounts for approximately 1.9% of Davidson & Garrard Inc.’s investment portfolio, making the stock its 12th biggest holding. Davidson & Garrard Inc.’s holdings in General Electric were worth $7,856,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. GFS Advisors LLC grew its holdings in shares of General Electric by 1.0% during the third quarter. GFS Advisors LLC now owns 639,153 shares of the conglomerate’s stock valued at $15,454,000 after buying an additional 6,349 shares during the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of General Electric by 10.9% during the third quarter. Stratos Wealth Partners LTD. now owns 256,052 shares of the conglomerate’s stock valued at $6,191,000 after buying an additional 25,064 shares during the last quarter. Bedell Frazier Investment Counseling LLC grew its holdings in shares of General Electric by 1.2% during the third quarter. Bedell Frazier Investment Counseling LLC now owns 279,514 shares of the conglomerate’s stock valued at $6,759,000 after buying an additional 3,291 shares during the last quarter. Capital Investment Counsel Inc grew its holdings in shares of General Electric by 4.3% during the third quarter. Capital Investment Counsel Inc now owns 151,643 shares of the conglomerate’s stock valued at $3,667,000 after buying an additional 6,186 shares during the last quarter. Finally, Allen Investment Management LLC grew its holdings in shares of General Electric by 62.6% during the third quarter. Allen Investment Management LLC now owns 177,587 shares of the conglomerate’s stock valued at $4,294,000 after buying an additional 68,391 shares during the last quarter. 55.44% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average price 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 90 days, insiders have purchased 124,370 shares of company stock valued at $2,245,570. Insiders own 0.36% of the company’s stock.
General Electric (GE) opened at $14.45 on Friday. General Electric has a 1 year low of $14.45 and a 1 year high of $30.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86. The firm has a market cap of $132,249.30, a PE ratio of 14.52, a P/E/G ratio of 2.89 and a beta of 0.93.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. analysts forecast that General Electric will post 0.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, December 27th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 3.32%. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
A number of equities research analysts have recently weighed in on GE shares. Stifel Nicolaus reissued a “buy” rating and set a $26.00 price objective on shares of General Electric in a report on Thursday, October 12th. Goldman Sachs Group set a $23.00 price target on shares of General Electric and gave the company a “hold” rating in a report on Tuesday, October 17th. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a price target on shares of General Electric in a report on Thursday, October 19th. Cowen reaffirmed a “hold” rating and issued a $24.00 price target on shares of General Electric in a report on Friday, October 20th. Finally, UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $31.00 to $24.00 in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.31.
General Electric 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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