Sanders Morris Harris LLC Buys 28,499 Shares of General Electric (NYSE:GE)
Sanders Morris Harris LLC increased its holdings in General Electric (NYSE:GE) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 443,052 shares of the conglomerate’s stock after buying an additional 28,499 shares during the period. Sanders Morris Harris LLC’s holdings in General Electric were worth $2,773,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Telemus Capital LLC boosted its holdings in General Electric by 8.5% in the 1st quarter. Telemus Capital LLC now owns 17,868 shares of the conglomerate’s stock worth $117,000 after buying an additional 1,393 shares during the period. Lincoln Capital LLC boosted its holdings in General Electric by 3.2% in the 2nd quarter. Lincoln Capital LLC now owns 46,046 shares of the conglomerate’s stock worth $314,000 after buying an additional 1,446 shares during the period. NorthRock Partners LLC boosted its holdings in General Electric by 6.4% in the 2nd quarter. NorthRock Partners LLC now owns 25,353 shares of the conglomerate’s stock worth $173,000 after buying an additional 1,524 shares during the period. Assetmark Inc. boosted its holdings in General Electric by 5.1% in the 2nd quarter. Assetmark Inc. now owns 31,957 shares of the conglomerate’s stock worth $218,000 after buying an additional 1,538 shares during the period. Finally, Private Asset Management Inc. boosted its holdings in General Electric by 4.3% in the 2nd quarter. Private Asset Management Inc. now owns 38,234 shares of the conglomerate’s stock worth $261,000 after buying an additional 1,580 shares during the period. 59.95% of the stock is owned by institutional investors.
Several research analysts recently commented on GE shares. ValuEngine raised shares of General Electric from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Zacks Investment Research upgraded shares of General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 target price on the stock in a research note on Wednesday. Oppenheimer reiterated a “hold” rating on shares of General Electric in a research note on Monday, August 3rd. Goldman Sachs Group reiterated a “buy” rating and issued a $10.00 target price on shares of General Electric in a research note on Friday, October 9th. Finally, JPMorgan Chase & Co. reiterated a “fair value” rating on shares of General Electric in a research note on Monday, August 31st. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $9.09.
Shares of General Electric stock traded up $0.42 on Friday, hitting $7.29. 169,147,263 shares of the company traded hands, compared to its average volume of 97,304,438. The company has a market cap of $63.81 billion, a P/E ratio of -12.57 and a beta of 0.92. The firm’s 50-day simple moving average is $6.41 and its 200 day simple moving average is $6.65. General Electric has a 12-month low of $5.48 and a 12-month high of $13.26. The company has a current ratio of 2.21, a quick ratio of 1.95 and a debt-to-equity ratio of 2.05.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $17.75 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a positive return on equity of 7.94% and a negative net margin of 5.10%. General Electric’s revenue for the quarter was down 38.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.17 EPS. Analysts predict that General Electric will post -0.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, September 28th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Friday, September 25th. General Electric’s payout ratio is presently 6.15%.
General Electric Company 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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