Polaris Greystone Financial Group LLC bought a new stake in General Electric (NYSE:GE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,669 shares of the conglomerate’s stock, valued at approximately $258,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Perkins Coie Trust Co lifted its position in shares of General Electric by 21.4% during the second quarter. Perkins Coie Trust Co now owns 53,947 shares of the conglomerate’s stock worth $1,457,000 after purchasing an additional 9,527 shares in the last quarter. City Holding Co. lifted its position in shares of General Electric by 8.5% during the second quarter. City Holding Co. now owns 145,815 shares of the conglomerate’s stock worth $3,937,000 after purchasing an additional 11,395 shares in the last quarter. Koshinski Asset Management Inc. lifted its position in shares of General Electric by 4.1% during the second quarter. Koshinski Asset Management Inc. now owns 95,487 shares of the conglomerate’s stock worth $2,579,000 after purchasing an additional 3,719 shares in the last quarter. Oakmont Partners LLC lifted its position in shares of General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares in the last quarter. Finally, Atria Investments LLC lifted its position in shares of General Electric by 4.8% during the second quarter. Atria Investments LLC now owns 181,993 shares of the conglomerate’s stock worth $4,916,000 after purchasing an additional 8,318 shares in the last quarter. 55.64% of the stock is currently owned by institutional investors.
Shares of General Electric (GE) opened at $16.26 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a one year low of $16.02 and a one year high of $30.90. The firm has a market cap of $141,008.11, a P/E ratio of 20.33, a P/E/G ratio of 2.98 and a beta of 1.07.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.95%. General Electric’s payout ratio is 60.00%.
In other news, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock worth $2,183,220 over the last 90 days. Insiders own 0.36% of the company’s stock.
Several analysts have recently issued reports on GE shares. Stifel Nicolaus reissued a “buy” rating and set a $26.00 price target on shares of General Electric in a research report on Thursday, October 12th. Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Citigroup set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. Royal Bank of Canada set a $25.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, Morningstar reissued a “buy” rating on shares of General Electric in a research report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and a consensus price target of $22.94.
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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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