Laurel Wealth Advisors Inc. Buys 19,267 Shares of General Electric Company (GE)
Laurel Wealth Advisors Inc. increased its position in General Electric Company (NYSE:GE) by 10.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 197,025 shares of the conglomerate’s stock after buying an additional 19,267 shares during the period. General Electric makes up approximately 2.3% of Laurel Wealth Advisors Inc.’s holdings, making the stock its 4th largest position. Laurel Wealth Advisors Inc.’s holdings in General Electric were worth $5,871,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Jarislowsky Fraser Ltd boosted its position in shares of General Electric by 5.5% in the fourth quarter. Jarislowsky Fraser Ltd now owns 4,075,563 shares of the conglomerate’s stock valued at $128,787,000 after buying an additional 211,742 shares during the period. AE Wealth Management LLC acquired a new position in shares of General Electric during the fourth quarter valued at about $2,092,000. Rathbone Brothers plc boosted its position in shares of General Electric by 0.5% in the first quarter. Rathbone Brothers plc now owns 1,326,585 shares of the conglomerate’s stock valued at $39,532,000 after buying an additional 7,249 shares during the period. Lincoln Capital Corp acquired a new position in shares of General Electric during the fourth quarter valued at about $5,902,000. Finally, Berkshire Asset Management LLC PA boosted its position in shares of General Electric by 4.5% in the first quarter. Berkshire Asset Management LLC PA now owns 623,128 shares of the conglomerate’s stock valued at $18,569,000 after buying an additional 26,733 shares during the period. Institutional investors and hedge funds own 54.31% of the company’s stock.
General Electric Company (GE) traded down 0.0627% on Monday, hitting $24.5346. 12,969,669 shares of the company’s stock were exchanged. General Electric Company has a 52-week low of $24.32 and a 52-week high of $32.38. The stock has a market cap of $212.42 billion, a P/E ratio of 29.8838 and a beta of 1.21. The firm has a 50 day moving average price of $25.95 and a 200-day moving average price of $28.34.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The company had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same quarter in the prior year, the business earned $0.51 EPS. General Electric’s revenue was down 11.8% on a year-over-year basis. Analysts predict that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.91%. General Electric’s dividend payout ratio (DPR) is 118.52%.
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GE has been the subject of several recent research reports. UBS AG restated a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Deutsche Bank AG set a $24.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Monday, May 29th. Citigroup Inc. restated a “buy” rating and issued a $34.00 price target (down from $36.00) on shares of General Electric in a research report on Monday, July 10th. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target for the company. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $30.08.
In other General Electric news, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were acquired at an average price of $25.54 per share, for a total transaction of $47,121.30. Following the acquisition, the insider now owns 65,597 shares in the company, valued at approximately $1,675,347.38. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 133,253 shares of company stock worth $3,404,264. 0.36% of the stock is owned by company insiders.
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