FormulaFolio Investments LLC Has $794,000 Holdings in General Electric (GE)
FormulaFolio Investments LLC grew its position in General Electric (NYSE:GE) by 100.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,837 shares of the conglomerate’s stock after acquiring an additional 16,490 shares during the quarter. FormulaFolio Investments LLC’s holdings in General Electric were worth $794,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the stock. Peak Financial Management Inc. raised its position in General Electric by 0.3% during the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares during the period. Puplava Financial Services Inc. raised its position in General Electric by 0.4% during the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares during the period. Cutter & CO Brokerage Inc. raised its position in General Electric by 0.3% during the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the period. Northwest Wealth Management LLC raised its position in General Electric by 0.8% during the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares during the period. Finally, NorthRock Partners LLC raised its position in General Electric by 0.9% during the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares during the period. Institutional investors and hedge funds own 55.61% of the company’s stock.
A number of research analysts have commented on the company. Vetr downgraded General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price on the stock. in a research note on Monday, September 25th. Cowen reissued a “hold” rating and issued a $19.00 target price on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 price target on General Electric and gave the company a “sell” rating in a report on Monday, October 23rd. J P Morgan Chase & Co reaffirmed an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Finally, Goldman Sachs Group set a $23.00 price objective on General Electric and gave the company a “hold” rating in a research report on Tuesday, October 17th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $23.39.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same period last year, the company earned $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. analysts forecast that General Electric will post 1.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.75%. General Electric’s payout ratio is currently 120.00%.
In related news, Director Steven M. Mollenkopf acquired 5,500 shares of the stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now owns 5,500 shares in the company, valued at approximately $100,320. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought 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. Over the last ninety days, insiders purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by insiders.
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