Augustine Asset Management Inc. Has $1.09 Million Stake in General Electric (GE)
Augustine Asset Management Inc. decreased its stake in General Electric (NYSE:GE) by 75.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,265 shares of the conglomerate’s stock after selling 141,517 shares during the period. Augustine Asset Management Inc. owned 0.07% of General Electric worth $1,094,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in GE. Peak Financial Management Inc. lifted its position in General Electric by 0.3% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after acquiring an additional 25 shares during the last quarter. Puplava Financial Services Inc. lifted its position in General Electric by 0.4% during the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 41 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its position in General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after acquiring an additional 67 shares during the last quarter. Northwest Wealth Management LLC lifted its position in General Electric by 0.8% during the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 75 shares during the last quarter. Finally, NorthRock Partners LLC lifted its position in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 55.62% of the company’s stock.
Several brokerages have issued reports on GE. Morgan Stanley downgraded shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price objective for the company. in a research report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 target price on the stock in a report on Monday, October 23rd. Finally, Argus lowered their target price on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.39.
Shares of General Electric (NYSE GE) opened at $17.38 on Thursday. The firm has a market cap of $150,720.00, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. General Electric has a one year low of $17.31 and a one year high of $31.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. sell-side analysts expect that General Electric will post 1.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.76%. General Electric’s dividend payout ratio (DPR) is presently 111.63%.
In other General Electric news, Chairman John Leonard Flannery purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by company insiders.
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