Westhampton Capital LLC bought a new position in shares of General Electric (NYSE:GE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,150 shares of the conglomerate’s stock, valued at approximately $348,000.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its position in General Electric by 49.4% in the first quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock valued at $4,499,762,000 after acquiring an additional 148,979,851 shares in the last quarter. Norges Bank acquired a new stake in General Electric in the fourth quarter valued at approximately $555,184,000. Harris Associates L P grew its position in General Electric by 35.1% in the fourth quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after acquiring an additional 31,634,318 shares in the last quarter. Pzena Investment Management LLC grew its position in General Electric by 90.0% in the fourth quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock valued at $479,662,000 after acquiring an additional 30,017,912 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in General Electric by 7.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock valued at $755,819,000 after acquiring an additional 7,194,723 shares in the last quarter. 58.85% of the stock is owned by hedge funds and other institutional investors.
Shares of GE stock traded down $0.27 during mid-day trading on Friday, reaching $7.92. 4,224,268 shares of the company were exchanged, compared to its average volume of 97,890,944. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $13.78. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. The company has a market capitalization of $73.13 billion, a P/E ratio of 12.21, a P/E/G ratio of 1.81 and a beta of 1.03. The business’s 50 day simple moving average is $9.81 and its 200 day simple moving average is $9.92.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, June 28th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
Several brokerages have issued reports on GE. Deutsche Bank set a $10.00 price objective on shares of General Electric and gave the company a “hold” rating in a research report on Thursday, May 2nd. Cowen reaffirmed a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research report on Wednesday, May 1st. ValuEngine downgraded shares of General Electric from a “hold” rating to a “sell” rating in a research report on Thursday. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Finally, Zacks Investment Research downgraded shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.68.
In other news, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas W. Horton acquired 55,248 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the completion of the purchase, the director now directly owns 55,248 shares of the company’s stock, valued at $498,336.96. The disclosure for this purchase can be found here. Insiders have purchased 794,568 shares of company stock worth $6,904,045 over the last 90 days. 1.13% of the stock is currently owned by company insiders.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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