Starfire Investment Advisers Inc. Raises Holdings in General Electric Company (GE)
Starfire Investment Advisers Inc. grew its stake in shares of General Electric Company (NYSE:GE) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,235 shares of the conglomerate’s stock after acquiring an additional 154 shares during the period. Starfire Investment Advisers Inc.’s holdings in General Electric were worth $357,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Warren Averett Asset Management LLC lifted its position in General Electric by 7.0% during the second 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 last quarter. Sabal Trust CO raised its position in shares of General Electric by 5.4% in the second quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after buying an additional 55,049 shares in the last quarter. Smithbridge Asset Management Inc. DE raised its position in shares of General Electric by 47.2% in the second quarter. Smithbridge Asset Management Inc. DE now owns 31,268 shares of the conglomerate’s stock valued at $845,000 after buying an additional 10,025 shares in the last quarter. Rothschild Investment Corp IL raised its position in shares of General Electric by 2.4% in the second quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock valued at $12,569,000 after buying an additional 10,906 shares in the last quarter. Finally, Windsor Financial Group LLC raised its position in shares of General Electric by 497.6% in the first quarter. Windsor Financial Group LLC now owns 156,454 shares of the conglomerate’s stock valued at $4,662,000 after buying an additional 130,275 shares in the last quarter. Hedge funds and other institutional investors own 54.29% of the company’s stock.
In other General Electric news, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of General Electric stock in a transaction that occurred 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 purchase, the director now owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
GE has been the subject of a number of analyst reports. UBS AG reiterated 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. Bank of America Corporation upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, October 23rd. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a research report on Wednesday, September 13th. Oppenheimer Holdings, Inc. downgraded shares of General Electric from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 24th. Finally, J P Morgan Chase & Co reiterated a “sell” rating and issued a price target on shares of General Electric in a research report on Thursday, October 19th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $24.84.
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Shares of General Electric Company (NYSE:GE) opened at $18.25 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a one year low of $17.46 and a one year high of $32.38. The firm has a market cap of $158,496.23, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.11.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share 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 business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the prior year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. sell-side analysts expect that General Electric Company will post 1.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 5.26%. General Electric’s dividend payout ratio is 120.00%.
About General Electric
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