Wendell David Associates Inc. Has $2,357,000 Stake in General Electric Company (NYSE:GE)
Wendell David Associates Inc. held its stake in shares of General Electric Company (NYSE:GE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,086 shares of the conglomerate’s stock at the end of the first quarter. Wendell David Associates Inc.’s holdings in General Electric were worth $2,357,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in GE. Stearns Financial Services Group increased its stake in General Electric by 5.9% in the fourth quarter. Stearns Financial Services Group now owns 191,977 shares of the conglomerate’s stock valued at $6,066,000 after buying an additional 10,719 shares during the last quarter. Abbrea Capital LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $2,361,000. Alethea Capital Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $774,000. Northwest Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $272,000. Finally, Horizon Investments LLC boosted its position in shares of General Electric by 73.7% in the fourth quarter. Horizon Investments LLC now owns 49,545 shares of the conglomerate’s stock valued at $1,565,000 after buying an additional 21,025 shares during the period. Institutional investors own 54.24% of the company’s stock.
General Electric Company (GE) traded up 0.94% during midday trading on Thursday, hitting $25.76. 30,911,213 shares of the stock were exchanged. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 23.85 and a beta of 1.21. General Electric Company has a 12-month low of $25.26 and a 12-month high of $32.38. The firm has a 50 day moving average of $26.94 and a 200-day moving average of $28.78.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.60% and a net margin of 6.45%. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the company posted $0.51 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts expect that General Electric Company will post $1.57 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.73%. General Electric’s dividend payout ratio is currently 118.52%.
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A number of research analysts have weighed in on GE shares. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the company a “sell” rating in a report on Saturday, May 20th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a report on Tuesday, July 4th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $26.00 price objective (down previously from $27.00) on shares of General Electric in a report on Monday, July 24th. Stifel Nicolaus boosted their target price on shares of General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada cut their target price on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $30.25.
In other General Electric news, Director James E. Rohr bought 27,425 shares of General Electric stock in a transaction dated Monday, July 24th. The stock was bought at an average cost of $25.50 per share, for a total transaction of $699,337.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of General Electric stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the purchase, the chairman now directly owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Insiders have bought a total of 149,270 shares of company stock valued at $4,113,059 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.
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