Northstar Wealth Partners LLC Has $2.62 Million Position in General Electric Company (GE)
Northstar Wealth Partners LLC decreased its position in General Electric Company (NYSE:GE) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,680 shares of the conglomerate’s stock after selling 1,038 shares during the quarter. General Electric accounts for 2.4% of Northstar Wealth Partners LLC’s portfolio, making the stock its 6th largest position. Northstar Wealth Partners LLC’s holdings in General Electric were worth $2,621,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in GE. Harris Associates L P raised its holdings in shares of General Electric by 26.4% during the first 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 in the last quarter. Schwab Charles Investment Management Inc. grew its stake in General Electric by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,649,070 shares of the conglomerate’s stock worth $823,943,000 after purchasing an additional 776,656 shares during the period. APG Asset Management N.V. grew its stake in shares of General Electric by 0.9% in the second quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after acquiring an additional 159,600 shares during the last quarter. US Bancorp DE grew its stake in shares of General Electric by 2.2% in the second quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after acquiring an additional 243,034 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of General Electric by 11.0% in the second quarter. Bank of Montreal Can now owns 10,159,258 shares of the conglomerate’s stock worth $274,401,000 after acquiring an additional 1,005,937 shares during the last quarter. Institutional investors own 54.38% of the company’s stock.
Several research firms recently commented on GE. J P Morgan Chase & Co dropped their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective on the stock in a research note on Monday, October 30th. UBS AG reaffirmed a “sell” rating and issued a $18.00 price objective (down previously from $21.00) on shares of General Electric in a research note on Monday, October 30th. Oppenheimer Holdings, Inc. cut General Electric from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 24th. Finally, Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and cut their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.84.
In related news, Director James S. Tisch purchased 100,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. 0.36% of the stock is owned by corporate insiders.
Shares of General Electric Company (NYSE GE) opened at $20.13 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market capitalization of $174,655.78, a P/E ratio of 16.24, a PEG ratio of 2.11 and a beta of 1.11. General Electric Company has a 52-week low of $19.63 and a 52-week high of $32.38.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. sell-side analysts predict that General Electric Company will post 1.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were given a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.77%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
General Electric Profile
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