General Electric (GE) Shares Bought by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. grew its holdings in shares of General Electric (NYSE:GE) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 648,316 shares of the conglomerate’s stock after buying an additional 33,619 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in General Electric were worth $8,823,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of General Electric during the first quarter valued at approximately $116,000. Santori & Peters Inc. bought a new stake in shares of General Electric during the fourth quarter valued at approximately $120,000. Archford Capital Strategies LLC bought a new stake in shares of General Electric during the first quarter valued at approximately $121,000. Blue Chip Wealth Management Inc. bought a new stake in shares of General Electric during the first quarter valued at approximately $135,000. Finally, Harborview Advisors LLC bought a new stake in shares of General Electric during the first quarter valued at approximately $137,000. 53.69% of the stock is currently owned by hedge funds and other institutional investors.
GE has been the topic of several research reports. JPMorgan Chase & Co. restated a “sell” rating and set a $11.00 price target on shares of General Electric in a research report on Monday, May 28th. UBS Group set a $16.00 price target on General Electric and gave the company a “hold” rating in a research report on Friday, June 1st. Royal Bank of Canada restated a “neutral” rating and set a $15.00 price target on shares of General Electric in a research report on Wednesday, June 20th. Zacks Investment Research lowered General Electric from a “hold” rating to a “strong sell” rating in a research report on Friday, June 22nd. Finally, Oppenheimer upgraded General Electric from an “underperform” rating to a “market perform” rating in a research report on Wednesday, June 27th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $16.34.
General Electric (NYSE:GE) last released its earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, topping 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 business had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. research analysts predict that General Electric will post 0.96 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.09%. The ex-dividend date is Friday, September 14th. General Electric’s dividend payout ratio (DPR) is 45.71%.
In related news, Director H Lawrence Culp, Jr. bought 191,000 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were acquired at an average cost of $13.04 per share, with a total value of $2,490,640.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.12% of the company’s stock.
About General Electric
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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