Heritage Wealth Advisors increased its stake in shares of General Electric Co. (NYSE:GE) by 8.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,666 shares of the company’s stock after buying an additional 3,076 shares during the period. General Electric accounts for about 0.8% of Heritage Wealth Advisors’ investment portfolio, making the stock its 19th largest position. Heritage Wealth Advisors’ holdings in General Electric were worth $1,250,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Catamount Wealth Management raised its stake in shares of General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company’s stock worth $110,000 after buying an additional 901 shares during the period. James Investment Research Inc. raised its stake in shares of General Electric by 2.6% in the second quarter. James Investment Research Inc. now owns 5,850 shares of the company’s stock worth $184,000 after buying an additional 150 shares during the period. Cranbrook Wealth Management LLC raised its stake in shares of General Electric by 20.1% in the second quarter. Cranbrook Wealth Management LLC now owns 5,984 shares of the company’s stock worth $188,000 after buying an additional 1,000 shares during the period. Northwest Investment Counselors LLC raised its stake in shares of General Electric by 2.7% in the second quarter. Northwest Investment Counselors LLC now owns 6,860 shares of the company’s stock worth $216,000 after buying an additional 182 shares during the period. Finally, Barry Investment Advisors LLC raised its stake in shares of General Electric by 0.7% in the second quarter. Barry Investment Advisors LLC now owns 6,871 shares of the company’s stock worth $216,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
Shares of General Electric Co. (NYSE:GE) traded down 0.65% on Friday, hitting $29.08. The stock had a trading volume of 37,840,132 shares. The company has a market capitalization of $260.59 billion, a P/E ratio of 24.58 and a beta of 1.15. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The firm has a 50 day moving average price of $30.31 and a 200 day moving average price of $30.77.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. On average, equities research analysts predict that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.16%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.
Several brokerages have recently commented on GE. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $31.67 target price for the company in a research report on Thursday, July 21st. Standpoint Research began coverage on General Electric in a research report on Friday, July 22nd. They issued a “sell” rating and a $26.00 target price for the company. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG reiterated a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $36.00 target price on shares of General Electric in a research report on Monday, July 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $32.81.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.
General Electric Company Profile
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