VERITY Wealth Advisors Takes Position in General Electric (GE)

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VERITY Wealth Advisors bought a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 31,370 shares of the conglomerate’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also modified their holdings of GE. World Asset Management Inc grew its holdings in General Electric by 2.1% during the 4th quarter. World Asset Management Inc now owns 604,304 shares of the conglomerate’s stock valued at $4,575,000 after buying an additional 12,390 shares in the last quarter. Mount Vernon Associates Inc. MD grew its holdings in General Electric by 8.8% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 77,200 shares of the conglomerate’s stock valued at $584,000 after buying an additional 6,225 shares in the last quarter. New Jersey Better Educational Savings Trust grew its holdings in General Electric by 11.1% during the 4th quarter. New Jersey Better Educational Savings Trust now owns 40,000 shares of the conglomerate’s stock valued at $303,000 after buying an additional 4,000 shares in the last quarter. Evermay Wealth Management LLC grew its holdings in General Electric by 9.6% during the 4th quarter. Evermay Wealth Management LLC now owns 49,560 shares of the conglomerate’s stock valued at $375,000 after buying an additional 4,342 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its holdings in General Electric by 2.5% during the 4th quarter. Sumitomo Life Insurance Co. now owns 231,184 shares of the conglomerate’s stock valued at $1,750,000 after buying an additional 5,578 shares in the last quarter. 56.98% of the stock is currently owned by institutional investors.

Shares of General Electric stock traded down $0.37 on Friday, reaching $9.93. The company had a trading volume of 38,865,346 shares, compared to its average volume of 102,033,848. The stock has a market cap of $84.74 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.33 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.43 and a current ratio of 1.81. General Electric has a 1 year low of $6.66 and a 1 year high of $15.59.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. The company had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. Sell-side analysts predict that General Electric will post 0.65 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, March 8th. General Electric’s payout ratio is currently 6.15%.

Several equities analysts have weighed in on GE shares. Argus upgraded General Electric from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. William Blair restated a “buy” rating on shares of General Electric in a report on Monday, January 14th. Morningstar set a $13.70 price target on General Electric and gave the company a “buy” rating in a report on Wednesday, November 21st. Royal Bank of Canada restated a “buy” rating and set a $13.00 price target on shares of General Electric in a report on Tuesday, November 20th. Finally, UBS Group set a $13.00 price target on General Electric and gave the company a “buy” rating in a report on Monday, December 10th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.44.

In related news, insider Russell Stokes sold 49,904 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the transaction, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.12% of the stock is owned by insiders.

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About General Electric

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

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