Taylor Hoffman Wealth Management boosted its stake in General Electric (NYSE:GE) by 12.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,551 shares of the conglomerate’s stock after purchasing an additional 4,101 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in General Electric were worth $336,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ashburton Jersey Ltd acquired a new position in General Electric in the second quarter valued at about $25,000. Venturi Wealth Management LLC acquired a new position in shares of General Electric during the third quarter worth about $25,000. Employers Holdings Inc. acquired a new position in shares of General Electric during the second quarter worth about $28,000. Fusion Family Wealth LLC boosted its position in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after buying an additional 2,629 shares during the period. Finally, Manchester Financial Inc. acquired a new position in shares of General Electric during the second quarter worth about $30,000. Institutional investors and hedge funds own 58.97% of the company’s stock.
Shares of NYSE GE traded up $0.23 during trading hours on Friday, reaching $11.52. 61,022,582 shares of the stock were exchanged, compared to its average volume of 60,476,536. The firm has a market capitalization of $100.61 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.46 and a beta of 1.13. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.60 and a current ratio of 1.84. General Electric has a 52 week low of $6.66 and a 52 week high of $11.75. The stock’s fifty day simple moving average is $9.25 and its 200 day simple moving average is $9.58.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The company had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The firm’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. Research analysts predict that General Electric will post 0.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 16th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Friday, September 13th. General Electric’s dividend payout ratio is presently 6.15%.
In other news, Director Thomas W. Horton acquired 55,248 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $9.02 per share, with a total value of $498,336.96. Following the acquisition, the director now directly owns 55,248 shares in the company, valued at approximately $498,336.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 801,068 shares of company stock worth $6,954,745. Company insiders own 1.13% of the company’s stock.
Several research analysts have recently weighed in on GE shares. Citigroup set a $14.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Morgan Stanley started coverage on General Electric in a research note on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a research note on Friday, November 1st. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Friday, August 16th. Finally, Barclays reiterated a “buy” rating and set a $12.00 target price on shares of General Electric in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $10.41.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
Featured Story: What is the return on assets formula?
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 (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.