Emerald Investment Partners LLC acquired a new position in shares of General Electric (NYSE:GE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 22,632 shares of the conglomerate’s stock, valued at approximately $309,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC purchased a new stake in shares of General Electric in the 1st quarter valued at about $121,000. Santori & Peters Inc. purchased a new position in shares of General Electric during the 4th quarter valued at about $120,000. Mount Yale Investment Advisors LLC purchased a new position in shares of General Electric during the 1st quarter valued at about $116,000. Ackerman Capital Advisors LLC purchased a new position in shares of General Electric during the 4th quarter valued at about $225,000. Finally, Blue Chip Wealth Management Inc. purchased a new position in shares of General Electric during the 1st quarter valued at about $135,000. 53.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of GE stock opened at $13.61 on Tuesday. The company has a market capitalization of $98.03 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. General Electric has a fifty-two week low of $11.21 and a fifty-two week high of $24.15. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be given a $0.12 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.53%. General Electric’s dividend payout ratio is currently 45.71%.
In other news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.12% of the stock is currently owned by company insiders.
GE has been the topic of several recent research reports. UBS Group lowered General Electric to an “add” rating and set a $23.00 price target on the stock. in a research report on Tuesday, October 2nd. Citigroup reduced their price target on General Electric from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. Gabelli restated a “buy” rating on shares of General Electric in a research report on Wednesday, July 18th. Morningstar set a $15.70 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, Deutsche Bank set a $15.00 price target on General Electric and gave the stock a “hold” rating in a research report on Thursday, July 12th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus price target of $16.42.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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