Mascoma Wealth Management LLC Has $915,000 Holdings in General Electric Company (GE)
Mascoma Wealth Management LLC raised its holdings in shares of General Electric Company (NYSE:GE) by 55.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,886 shares of the conglomerate’s stock after acquiring an additional 12,076 shares during the quarter. General Electric comprises approximately 0.6% of Mascoma Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Mascoma Wealth Management LLC’s holdings in General Electric were worth $915,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the first quarter worth $106,000. Feltz Wealth PLAN Inc. bought a new position in shares of General Electric in the first quarter worth $114,000. PHH Investments Ltd. increased its holdings in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the period. Parametrica Management Ltd bought a new position in shares of General Electric in the first quarter worth $214,000. Finally, Oakmont Partners LLC increased its holdings in shares of General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares during the period. 54.69% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on GE. Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Stifel Nicolaus reaffirmed a “buy” rating on shares of General Electric in a report on Wednesday, June 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price target on shares of General Electric in a report on Friday, September 15th. Finally, Vetr raised shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.63 price target on the stock in a report on Monday, October 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.28.
In other news, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the transaction, the insider now directly owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by corporate insiders.
General Electric Company (NYSE:GE) traded down 1.67% during mid-day trading on Wednesday, reaching $22.97. 46,159,163 shares of the company’s stock traded hands. General Electric Company has a one year low of $22.90 and a one year high of $32.38. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 21.27 and a beta of 1.19. The firm’s 50-day moving average price is $24.37 and its 200 day moving average price is $26.88.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that General Electric Company will post $1.54 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.11%. General Electric’s dividend payout ratio is presently 118.52%.
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