Willingdon Wealth Management Decreases Holdings in General Electric Company (GE)
Willingdon Wealth Management trimmed its position in shares of General Electric Company (NYSE:GE) by 56.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,598 shares of the conglomerate’s stock after selling 43,235 shares during the period. Willingdon Wealth Management’s holdings in General Electric were worth $907,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. acquired a new position in General Electric during the first quarter worth $106,000. PHH Investments Ltd. raised its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares in the last quarter. Oakmont Partners LLC raised its stake in shares of General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after acquiring an additional 278 shares in the last quarter. Cascade Investment Advisors Inc. raised its stake in shares of General Electric by 25.2% in the second quarter. Cascade Investment Advisors Inc. now owns 8,081 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 1,625 shares in the last quarter. Finally, Barber Financial Group Inc. raised its stake in shares of General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 220 shares in the last quarter. Institutional investors own 55.74% of the company’s stock.
Several brokerages have recently issued reports on GE. Cowen reiterated a “hold” rating and issued a $24.00 price objective on shares of General Electric in a research note on Monday, August 7th. J P Morgan Chase & Co reiterated an “underweight” rating and issued a $22.00 price objective on shares of General Electric in a research note on Thursday, September 7th. Vetr cut General Electric from a “hold” rating to a “sell” rating and set a $23.72 price objective on the stock. in a research note on Monday, September 25th. Credit Suisse Group reiterated an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Finally, Morgan Stanley reduced their price objective on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Monday, October 2nd. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric has an average rating of “Hold” and an average target price of $24.31.
In other news, Director Steven M. Mollenkopf acquired 5,500 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at approximately $100,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of the company’s stock in a transaction on 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 disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by insiders.
General Electric Company (NYSE:GE) traded down $0.20 during trading on Tuesday, reaching $17.75. The company’s stock had a trading volume of 14,585,562 shares, compared to its average volume of 45,027,035. General Electric Company has a one year low of $17.46 and a one year high of $32.38. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The firm has a market capitalization of $155,056.88, a PE ratio of 14.42, a PEG ratio of 1.94 and a beta of 1.06.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. analysts anticipate that General Electric Company will post 1.07 earnings per share for the current year.
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About General Electric
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