Ahrens Investment Partners LLC Acquires New Holdings in General Electric (GE)
Ahrens Investment Partners LLC bought a new stake in General Electric (NYSE:GE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,268 shares of the conglomerate’s stock, valued at approximately $165,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Baldwin Investment Management LLC boosted its position in General Electric by 32.1% in the 1st quarter. Baldwin Investment Management LLC now owns 23,650 shares of the conglomerate’s stock worth $319,000 after purchasing an additional 5,750 shares in the last quarter. Wealthsource Partners LLC boosted its position in General Electric by 41.5% in the 4th quarter. Wealthsource Partners LLC now owns 85,175 shares of the conglomerate’s stock worth $1,486,000 after purchasing an additional 24,989 shares in the last quarter. Wade G W & Inc. boosted its position in General Electric by 13.6% in the 1st quarter. Wade G W & Inc. now owns 90,810 shares of the conglomerate’s stock worth $1,224,000 after purchasing an additional 10,885 shares in the last quarter. Barings LLC boosted its position in General Electric by 533.0% in the 1st quarter. Barings LLC now owns 118,762 shares of the conglomerate’s stock worth $1,601,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in General Electric by 6.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,382,624 shares of the conglomerate’s stock worth $18,638,000 after purchasing an additional 82,017 shares in the last quarter. Hedge funds and other institutional investors own 54.01% of the company’s stock.
In other news, Director H Lawrence Culp, Jr. acquired 191,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 24th. The stock was purchased at an average cost of $13.04 per share, with a total value of $2,490,640.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.12% of the stock is currently owned by corporate insiders.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same period in the prior year, the company earned $0.21 EPS. The firm’s revenue was up 3.5% compared to the same quarter last year. sell-side analysts expect that General Electric will post 0.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Monday, June 18th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Friday, June 15th. General Electric’s dividend payout ratio is currently 45.71%.
Several equities research analysts have commented on GE shares. Goldman Sachs Group set a $14.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Monday, April 23rd. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Monday, April 23rd. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, April 25th. Stifel Nicolaus increased their target price on General Electric from $13.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, April 27th. Finally, JPMorgan Chase & Co. set a $11.00 target price on General Electric and gave the company a “sell” rating in a research report on Friday, April 27th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $17.15.
General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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