Westover Capital Advisors LLC Has $2.64 Million Stake in General Electric Company (GE)
Westover Capital Advisors LLC decreased its stake in General Electric Company (NYSE:GE) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,689 shares of the conglomerate’s stock after selling 3,902 shares during the period. General Electric accounts for approximately 1.7% of Westover Capital Advisors LLC’s holdings, making the stock its 22nd largest position. Westover Capital Advisors LLC owned approximately 0.14% of General Electric worth $2,639,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. BlackRock Inc. grew its holdings in General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital Research Global Investors grew its holdings in General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Boston Partners grew its holdings in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the period. Finally, Capital World Investors grew its holdings in General Electric by 8.6% during the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Institutional investors own 55.74% of the company’s stock.
Shares of General Electric Company (GE) traded down $0.06 during trading hours on Tuesday, hitting $17.65. The stock had a trading volume of 58,171,200 shares, compared to its average volume of 45,248,898. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38. The company has a market capitalization of $153,582.61, a PE ratio of 14.28, a PEG ratio of 1.92 and a beta of 1.06. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last issued its quarterly earnings data 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). 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 the consensus estimate of $32.51 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 11.5% on a year-over-year basis. analysts forecast that General Electric Company will post 1.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio is presently 120.00%.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John Leonard Flannery purchased 60,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by company insiders.
GE has been the subject of a number of research analyst reports. Goldman Sachs Group set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. J P Morgan Chase & Co set a $17.00 price target on General Electric and gave the stock a “sell” rating in a report on Wednesday, November 15th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a report on Monday, October 23rd. Stifel Nicolaus set a $22.00 price target on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Finally, Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price target for the company in a report on Monday, October 30th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $23.39.
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