Wealthsource Partners LLC Raises Position in General Electric Company (GE)
Wealthsource Partners LLC raised its holdings in shares of General Electric Company (NYSE:GE) by 2.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,323 shares of the conglomerate’s stock after buying an additional 1,731 shares during the period. Wealthsource Partners LLC owned about 0.10% of General Electric worth $1,791,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Ullmann Financial Group Inc. acquired a new position in General Electric in the 1st quarter worth approximately $106,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% in the 1st 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. Ffcm LLC acquired a new position in General Electric in the 2nd quarter worth approximately $114,000. Corbenic Partners LLC boosted its stake in General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the period. Finally, Flaharty Asset Management LLC purchased a new stake in General Electric in the 1st quarter worth approximately $226,000. Hedge funds and other institutional investors own 55.74% of the company’s stock.
In other news, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock worth $2,183,220 over the last quarter. 0.36% of the stock is currently owned by company insiders.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts anticipate that General Electric Company will post 1.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.68%. General Electric’s payout ratio is presently 120.00%.
A number of equities research analysts have issued reports on the stock. Vetr downgraded shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a research report on Monday, September 25th. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Monday. Cowen reiterated a “hold” rating and issued a $19.00 target price on shares of General Electric in a research report on Wednesday, November 8th. Deutsche Bank set a $21.00 target price on shares of General Electric and gave the stock a “sell” rating in a research report on Monday, October 23rd. Finally, Goldman Sachs Group set a $19.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.39.
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