Northern Oak Wealth Management Inc. boosted its holdings in General Electric Company (NYSE:GE) by 2.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 233,243 shares of the conglomerate’s stock after purchasing an additional 6,462 shares during the quarter. General Electric comprises approximately 1.3% of Northern Oak Wealth Management Inc.’s portfolio, making the stock its 26th biggest position. Northern Oak Wealth Management Inc.’s holdings in General Electric were worth $6,951,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Feltz Wealth PLAN Inc. acquired a new position in General Electric in the first quarter valued at approximately $114,000. Cable Hill Partners LLC boosted its holdings in General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after purchasing an additional 780 shares in the last quarter. Parametrica Management Ltd acquired a new position in General Electric in the first quarter valued at approximately $214,000. Barber Financial Group Inc. boosted its holdings in General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after purchasing an additional 220 shares in the last quarter. Finally, Hays Advisory LLC boosted its holdings in General Electric by 12.2% in the first quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock valued at $222,000 after purchasing an additional 810 shares in the last quarter. 54.78% of the stock is owned by hedge funds and other institutional investors.
GE has been the subject of a number of research analyst reports. UBS AG reaffirmed a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price objective on General Electric and gave the company a “sell” rating in a report on Monday, May 29th. Goldman Sachs Group, Inc. (The) set a $29.00 price objective on General Electric and gave the company a “neutral” rating in a report on Friday, July 7th. Credit Suisse Group reissued an “outperform” rating and issued a $33.00 price objective on shares of General Electric in a report on Saturday, July 22nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $34.00 price objective (down from $36.00) on shares of General Electric in a report on Monday, July 10th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and an average price target of $29.92.
In other General Electric news, Director James S. Tisch purchased 100,000 shares of General Electric stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Insiders have acquired a total of 233,253 shares of company stock valued at $5,860,264 in the last quarter. 0.36% of the stock is currently owned by insiders.
General Electric Company (GE) traded up 0.707% on Wednesday, reaching $24.079. The company’s stock had a trading volume of 17,531,438 shares. The firm has a market capitalization of $208.47 billion, a P/E ratio of 29.329 and a beta of 1.22. The firm has a 50-day moving average price of $24.99 and a 200 day moving average price of $27.72. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the previous year, the firm posted $0.51 EPS. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. Equities analysts anticipate that General Electric Company will post $1.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a yield of 4.02%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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