Verity & Verity LLC Has $5.29 Million Stake in General Electric (GE)
Verity & Verity LLC raised its holdings in shares of General Electric (NYSE:GE) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 218,786 shares of the conglomerate’s stock after acquiring an additional 11,585 shares during the quarter. Verity & Verity LLC’s holdings in General Electric were worth $5,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Ffcm LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $114,000. MPS Loria Financial Planners LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $113,000. Corbenic Partners LLC raised its position in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC bought a new stake in shares of General Electric during the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of General Electric during the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 55.64% of the company’s stock.
In other General Electric news, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction dated Thursday, November 16th. The stock was acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by insiders.
General Electric (NYSE:GE) last announced 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 the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. equities research analysts predict that General Electric will post 1.05 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.95%. General Electric’s dividend payout ratio is currently 55.81%.
GE has been the topic of several recent analyst reports. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of General Electric in a research report on Thursday, October 12th. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Monday, October 23rd. Citigroup set a $28.00 price objective on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Morningstar restated a “buy” rating on shares of General Electric in a research report on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.94.
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General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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