General Electric (NYSE:GE) Shares Purchased by Thompson Investment Management Inc.
Thompson Investment Management Inc. increased its stake in shares of General Electric (NYSE:GE) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,027,784 shares of the conglomerate’s stock after purchasing an additional 30,990 shares during the period. General Electric makes up 1.8% of Thompson Investment Management Inc.’s investment portfolio, making the stock its 9th biggest position. Thompson Investment Management Inc.’s holdings in General Electric were worth $9,188,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock worth $6,805,671,000 after buying an additional 8,989,832 shares during the last quarter. BlackRock Inc. lifted its holdings in General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after buying an additional 9,483,976 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in General Electric by 26.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock worth $3,838,441,000 after buying an additional 76,193,032 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in General Electric by 0.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock worth $1,177,663,000 after buying an additional 364,061 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in General Electric by 0.5% during the 2nd quarter. Northern Trust Corp now owns 102,577,946 shares of the conglomerate’s stock worth $1,077,069,000 after buying an additional 498,587 shares during the last quarter. 58.97% of the stock is owned by hedge funds and other institutional investors.
Shares of General Electric stock traded up $0.23 on Friday, hitting $11.52. The stock had a trading volume of 62,472,533 shares, compared to its average volume of 60,476,536. General Electric has a 52-week low of $6.66 and a 52-week high of $11.75. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 2.67. The stock has a market cap of $100.61 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.46 and a beta of 1.13. The company’s 50 day moving average price is $9.21 and its 200 day moving average price is $9.57.
The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other General Electric news, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Thomas W. Horton bought 55,248 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now directly owns 55,248 shares in the company, valued at approximately $498,336.96. The disclosure for this purchase can be found here. Insiders purchased a total of 801,068 shares of company stock worth $6,954,745 in the last 90 days. 1.13% of the stock is currently owned by insiders.
A number of analysts have issued reports on GE shares. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Friday, August 16th. Barclays reissued a “buy” rating and issued a $12.00 target price on shares of General Electric in a report on Friday, October 4th. Deutsche Bank boosted their target price on General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $11.50 in a report on Monday, July 15th. Finally, Morgan Stanley assumed coverage on General Electric in a report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 target price for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $10.41.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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