DORCHESTER WEALTH MANAGEMENT Co raised its position in General Electric Company (NYSE:GE) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 204,249 shares of the conglomerate’s stock after buying an additional 12,552 shares during the period. General Electric accounts for about 2.1% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 14th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in General Electric were worth $6,087,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Wilkins Investment Counsel Inc. raised its stake in shares of General Electric by 8.7% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 136,558 shares of the conglomerate’s stock worth $4,315,000 after buying an additional 10,925 shares during the last quarter. Cypress Capital Management LLC raised its stake in shares of General Electric by 6.4% in the fourth quarter. Cypress Capital Management LLC now owns 510,293 shares of the conglomerate’s stock worth $16,125,000 after buying an additional 30,565 shares during the last quarter. Frontier Wealth Management LLC raised its stake in shares of General Electric by 27.8% in the fourth quarter. Frontier Wealth Management LLC now owns 151,841 shares of the conglomerate’s stock worth $4,798,000 after buying an additional 33,072 shares during the last quarter. SSI Investment Management Inc. increased its stake in General Electric by 7.2% in the fourth quarter. SSI Investment Management Inc. now owns 28,285 shares of the conglomerate’s stock worth $893,000 after buying an additional 1,906 shares during the period. Finally, LBA Wealth Management LLC increased its stake in General Electric by 10.7% in the fourth quarter. LBA Wealth Management LLC now owns 8,056 shares of the conglomerate’s stock worth $255,000 after buying an additional 776 shares during the period. Hedge funds and other institutional investors own 54.24% of the company’s stock.
Shares of General Electric Company (NYSE GE) opened at 25.44 on Wednesday. The stock’s 50 day moving average price is $26.94 and its 200 day moving average price is $28.78. General Electric Company has a one year low of $25.26 and a one year high of $32.38. The firm has a market cap of $220.59 billion, a price-to-earnings ratio of 30.99 and a beta of 1.21.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. General Electric had a return on equity of 14.60% and a net margin of 6.45%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, equities analysts anticipate that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.77%. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
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A number of research firms have recently weighed in on GE. TheStreet downgraded General Electric from a “b-” rating to a “c” rating in a research note on Friday, May 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 price target on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus reaffirmed a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Deutsche Bank AG downgraded General Electric from a “hold” rating to a “sell” rating and cut their price target for the stock from $28.00 to $24.00 in a research note on Friday, May 12th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus target price of $30.25.
In other news, Director James E. Rohr bought 27,425 shares of the stock in a transaction dated Monday, July 24th. The shares were bought at an average price of $25.50 per share, for a total transaction of $699,337.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of the stock in a transaction dated Monday, May 15th. The shares were purchased at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the purchase, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 149,270 shares of company stock worth $4,113,059. 0.36% of the stock is owned by corporate insiders.
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