Riverhead Capital Management LLC Purchases 4,369 Shares of General Electric (NYSE:GE)
Riverhead Capital Management LLC increased its holdings in shares of General Electric (NYSE:GE) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 88,111 shares of the conglomerate’s stock after purchasing an additional 4,369 shares during the period. Riverhead Capital Management LLC’s holdings in General Electric were worth $925,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in GE. Ashburton Jersey Ltd bought a new stake in General Electric in the 2nd quarter valued at about $25,000. Employers Holdings Inc. bought a new position in General Electric during the 2nd quarter worth $28,000. Fusion Family Wealth LLC raised its position in General Electric by 10,516.0% during the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the last quarter. Arbor Wealth Management LLC acquired a new position in General Electric during the 4th quarter worth about $30,000. Finally, Manchester Financial Inc. acquired a new position in General Electric during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 59.32% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Friday, August 2nd. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a report on Wednesday, July 31st. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.58.
GE stock traded up $0.12 during trading on Wednesday, reaching $9.26. 29,721,592 shares of the stock were exchanged, compared to its average volume of 96,922,320. The firm’s 50 day moving average is $9.08 and its 200 day moving average is $9.76. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The company has a current ratio of 1.73, a quick ratio of 1.44 and a debt-to-equity ratio of 1.65. The firm has a market cap of $79.77 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 2.00 and a beta of 1.09.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, analysts predict that General Electric will post 0.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, September 13th. General Electric’s dividend payout ratio (DPR) is 6.15%.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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