BDO Wealth Advisors LLC increased its stake in General Electric (NYSE:GE) by 1,861.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,230 shares of the conglomerate’s stock after buying an additional 104,610 shares during the period. BDO Wealth Advisors LLC’s holdings in General Electric were worth $1,500,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of GE. Gulf International Bank UK Ltd lifted its position in General Electric by 2.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock valued at $38,094,000 after acquiring an additional 67,257 shares in the last quarter. ST Germain D J Co. Inc. lifted its holdings in shares of General Electric by 2.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after buying an additional 24,812 shares during the period. Pure Financial Advisors Inc. bought a new position in shares of General Electric during the 2nd quarter valued at $207,000. Tributary Capital Management LLC lifted its holdings in shares of General Electric by 5,184.5% during the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the period. Finally, Filament LLC bought a new position in shares of General Electric during the 2nd quarter valued at $154,000. Institutional investors own 54.25% of the company’s stock.
In related news, Director Francisco Dsouza bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average cost of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 151,500 shares in the company, valued at $1,260,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman H Lawrence Culp, Jr. bought 225,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was bought at an average cost of $9.73 per share, for a total transaction of $2,189,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 295,000 shares of company stock worth $2,783,250. 1.12% of the stock is owned by insiders.
General Electric (NYSE:GE) last announced its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. During the same period in the prior year, the business posted $0.29 earnings per share. General Electric’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts forecast that General Electric will post 0.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 6.34%. General Electric’s dividend payout ratio is currently 45.71%.
Several equities analysts have recently weighed in on the company. Citigroup lowered their price target on General Electric from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, October 9th. ValuEngine raised General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, October 6th. Morningstar set a $16.10 price target on General Electric and gave the company a “buy” rating in a report on Monday, October 8th. Barclays raised General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 price target on the stock in a report on Monday, October 8th. Finally, Bank of America lowered their price target on General Electric from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, July 27th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.09.
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General Electric Company Profile
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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