Brookstone Capital Management Has $7.63 Million Position in General Electric (GE)

Brookstone Capital Management boosted its stake in General Electric (NYSE:GE) by 17.3% in the third quarter, Holdings Channel reports. The institutional investor owned 315,454 shares of the conglomerate’s stock after buying an additional 46,415 shares during the quarter. Brookstone Capital Management’s holdings in General Electric were worth $7,628,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toronto Dominion Bank grew its stake in General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares during the period. Warren Averett Asset Management LLC grew its stake in shares of General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after acquiring an additional 6,799 shares during the period. Palouse Capital Management Inc. grew its stake in shares of General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after acquiring an additional 9,755 shares during the period. Destination Wealth Management grew its stake in shares of General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after acquiring an additional 41,100 shares during the period. Finally, Rockland Trust Co. grew its stake in shares of General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after acquiring an additional 16,309 shares during the period. 55.64% of the stock is owned by institutional investors and hedge funds.

In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by corporate insiders.

Several research firms have recently weighed in on GE. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a research note on Wednesday, January 10th. Morgan Stanley downgraded General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target for the company. in a research note on Monday, October 23rd. Stifel Nicolaus downgraded General Electric from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Tuesday, October 24th. Goldman Sachs Group set a $23.00 price target on General Electric and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Finally, UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and cut their price target for the stock from $31.00 to $24.00 in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $22.94.

General Electric (GE) opened at $16.26 on Friday. General Electric has a 12 month low of $16.02 and a 12 month high of $30.90. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $141,010.00, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.07.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities analysts expect that General Electric will post 1.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.95%. General Electric’s dividend payout ratio is currently 55.81%.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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