General Electric Company (GE) Shares Bought by Tortoise Investment Management LLC
Tortoise Investment Management LLC grew its holdings in shares of General Electric Company (NYSE:GE) by 5.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,679 shares of the conglomerate’s stock after purchasing an additional 520 shares during the period. Tortoise Investment Management LLC’s holdings in General Electric were worth $261,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Ullmann Financial Group Inc. acquired a new position in shares of General Electric during the first quarter valued at $106,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares in the last quarter. Barber Financial Group Inc. boosted its stake in General Electric by 3.1% during the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after buying an additional 220 shares in the last quarter. Flaharty Asset Management LLC bought a new position in General Electric during the first quarter valued at about $226,000. Finally, Oakmont Partners LLC boosted its stake in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after buying an additional 278 shares in the last quarter. 54.29% of the stock is currently owned by institutional investors.
Shares of General Electric Company (GE) opened at $18.21 on Friday. General Electric Company has a 1 year low of $17.46 and a 1 year high of $32.38. The company has a market capitalization of $157,918.66, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share 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 firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts predict that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other news, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 165,500 shares of company stock valued at $3,652,520 over the last ninety days. Company insiders own 0.36% of the company’s stock.
Several research analysts recently weighed in on the company. J P Morgan Chase & Co set a $17.00 target price on General Electric and gave the company a “sell” rating in a research note on Wednesday. Bank of America Corporation reaffirmed a “buy” rating and set a $23.00 target price (down previously from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar, Inc. reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Stifel Nicolaus set a $22.00 target price on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group, Inc. (The) set a $22.00 target price on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $24.84.
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