Hengehold Capital Management LLC boosted its position in General Electric (NYSE:GE) by 30.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,615 shares of the conglomerate’s stock after purchasing an additional 7,912 shares during the period. Hengehold Capital Management LLC’s holdings in General Electric were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bellecapital International Ltd. raised its stake in shares of General Electric by 166.4% during the second quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after acquiring an additional 30,600 shares in the last quarter. Resource Management LLC raised its stake in General Electric by 22.4% in the second quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock worth $802,000 after buying an additional 13,977 shares in the last quarter. ANTIPODES PARTNERS Ltd raised its stake in General Electric by 5.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 14,753,170 shares of the conglomerate’s stock worth $154,908,000 after buying an additional 781,672 shares in the last quarter. Comerica Bank raised its stake in General Electric by 1.6% in the second quarter. Comerica Bank now owns 1,954,457 shares of the conglomerate’s stock worth $19,506,000 after buying an additional 31,411 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in General Electric by 13.5% in the second quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock worth $1,238,000 after buying an additional 14,033 shares in the last quarter. 59.28% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on GE shares. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $11.50 in a research note on Monday, July 15th. William Blair reissued a “buy” rating on shares of General Electric in a research note on Friday, August 16th. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley started coverage on shares of General Electric in a research note on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price objective for the company. Finally, JPMorgan Chase & Co. reissued a “sell” rating on shares of General Electric in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and an average price target of $10.55.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The business had revenue of $28.83 billion for the quarter, compared to analyst estimates of $28.83 billion. During the same period in the previous year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that General Electric will post 0.6 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s dividend payout ratio is currently 6.15%.
In related news, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie Seidman acquired 6,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $7.80 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the director now directly owns 6,500 shares of the company’s stock, valued at $50,700. The disclosure for this purchase can be found here. Insiders acquired 801,068 shares of company stock worth $6,954,745 over the last ninety days. Corporate insiders own 1.13% of the company’s stock.
About General Electric
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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