General Electric Company (GE) is Wellington Shields Capital Management LLC’s 7th Largest Position
Wellington Shields Capital Management LLC lifted its position in General Electric Company (NYSE:GE) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 285,556 shares of the conglomerate’s stock after acquiring an additional 5,574 shares during the period. General Electric accounts for approximately 1.3% of Wellington Shields Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Wellington Shields Capital Management LLC’s holdings in General Electric were worth $7,713,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Harris Associates L P lifted its stake in General Electric by 26.4% during the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after acquiring an additional 9,681,420 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of General Electric by 2.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock valued at $823,943,000 after acquiring an additional 776,656 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of General Electric by 0.9% in the 2nd quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock valued at $477,629,000 after acquiring an additional 159,600 shares during the last quarter. US Bancorp DE boosted its holdings in shares of General Electric by 2.2% in the 2nd quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock valued at $309,996,000 after acquiring an additional 243,034 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of General Electric by 11.0% in the 2nd quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock valued at $274,401,000 after acquiring an additional 1,005,937 shares during the last quarter. 54.71% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Alexander Dimitrief acquired 1,845 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares of the company’s stock, valued at approximately $1,675,347.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Rohr acquired 27,425 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, with a total value of $699,337.50. The disclosure for this purchase can be found here. Insiders have bought a total of 233,253 shares of company stock worth $5,860,264 in the last three months. Corporate insiders own 0.36% of the company’s stock.
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Several research firms have commented on GE. Morgan Stanley reaffirmed an “equal weight” rating and issued a $27.00 price target on shares of General Electric in a report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Stifel Nicolaus reiterated a “buy” rating on shares of General Electric in a research note on Wednesday, June 14th. Zacks Investment Research lowered General Electric from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price objective on shares of General Electric in a report on Friday, September 15th. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $28.57.
General Electric Company (NYSE GE) traded up 1.45% on Monday, reaching $24.53. The company had a trading volume of 18,995,336 shares. The company has a market capitalization of $212.38 billion, a PE ratio of 29.88 and a beta of 1.19. The company’s 50-day moving average is $24.74 and its 200-day moving average is $27.46. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period last year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts anticipate that General Electric Company will post $1.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 118.52%.
General Electric Profile
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