Willingdon Wealth Management Increases Position in General Electric Company (GE)
Willingdon Wealth Management increased its position in shares of General Electric Company (NYSE:GE) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,833 shares of the conglomerate’s stock after buying an additional 7,125 shares during the period. Willingdon Wealth Management’s holdings in General Electric were worth $2,290,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Feltz Wealth PLAN Inc. bought a new stake in General Electric during the first quarter valued at approximately $114,000. Heritage Way Advisors LLC bought a new stake in General Electric during the fourth quarter valued at approximately $205,000. Cable Hill Partners LLC raised its stake in General Electric by 12.5% in the first quarter. Cable Hill Partners LLC now owns 7,037 shares of the conglomerate’s stock valued at $210,000 after buying an additional 780 shares during the period. Parametrica Management Ltd bought a new stake in General Electric during the first quarter valued at approximately $214,000. Finally, Hays Advisory LLC raised its stake in General Electric by 12.2% in the first quarter. Hays Advisory LLC now owns 7,461 shares of the conglomerate’s stock valued at $222,000 after buying an additional 810 shares during the period. Institutional investors and hedge funds own 54.31% of the company’s stock.
Shares of General Electric Company (NYSE GE) traded up 0.78% on Friday, hitting $24.49. 22,867,795 shares of the company were exchanged. The stock has a market capitalization of $212.03 billion, a PE ratio of 29.83 and a beta of 1.21. The firm’s 50-day moving average is $25.62 and its 200-day moving average is $28.15. General Electric Company has a 52-week low of $24.30 and a 52-week high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. Equities research analysts predict that General Electric Company will post $1.57 earnings per share for the current year.
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Several research firms have recently commented on GE. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $29.97 price objective for the company. in a research note on Monday, June 19th. BidaskClub upgraded General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 17th. Bank of America Corporation restated a “neutral” rating and issued a $31.00 price objective on shares of General Electric in a research note on Tuesday, June 13th. Cowen and Company restated a “market perform” rating and issued a $30.00 price objective on shares of General Electric in a research note on Tuesday, June 13th. Finally, Deutsche Bank AG lowered General Electric from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $28.00 to $24.00 in a research note on Friday, May 12th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $30.08.
In other news, Director James S. Tisch purchased 100,000 shares of the stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander Dimitrief purchased 1,845 shares of the stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $25.54 per share, with a total value of $47,121.30. Following the completion of the acquisition, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 233,253 shares of company stock valued at $5,860,264. Insiders own 0.36% of the company’s stock.
General Electric Company Profile
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