Brookstone Capital Management boosted its holdings in shares of General Electric (NYSE:GE) by 73.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,722 shares of the conglomerate’s stock after buying an additional 39,293 shares during the period. Brookstone Capital Management’s holdings in General Electric were worth $829,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. grew its holdings in shares of General Electric by 0.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 7,185,691 shares of the conglomerate’s stock valued at $71,785,000 after purchasing an additional 28,949 shares during the last quarter. Cacti Asset Management LLC boosted its position in General Electric by 1.6% during the second quarter. Cacti Asset Management LLC now owns 149,000 shares of the conglomerate’s stock worth $1,550,000 after purchasing an additional 2,300 shares during the period. Park National Corp OH boosted its position in General Electric by 19.4% during the second quarter. Park National Corp OH now owns 1,903,454 shares of the conglomerate’s stock worth $19,986,000 after purchasing an additional 309,755 shares during the period. Anderson Hoagland & Co. boosted its position in General Electric by 32.9% during the second quarter. Anderson Hoagland & Co. now owns 136,215 shares of the conglomerate’s stock worth $1,286,000 after purchasing an additional 33,725 shares during the period. Finally, BigSur Wealth Management LLC boosted its position in General Electric by 56.9% during the second quarter. BigSur Wealth Management LLC now owns 49,650 shares of the conglomerate’s stock worth $528,000 after purchasing an additional 18,000 shares during the period. Hedge funds and other institutional investors own 59.28% of the company’s stock.
GE has been the subject of a number of research reports. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Royal Bank of Canada set a $13.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 7th. Citigroup set a $14.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Monday, October 7th. Finally, UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and cut their target price for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.55.
Shares of General Electric stock opened at $8.96 on Monday. General Electric has a 12-month low of $6.66 and a 12-month high of $12.81. The company has a market cap of $78.89 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 2.07 and a beta of 1.11. 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 company’s 50-day moving average price is $8.86 and its 200-day moving average price is $9.55.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 0.6 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 16th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, September 13th. General Electric’s payout ratio is 6.15%.
In related news, Director Thomas W. Horton bought 55,248 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $9.02 per share, with a total value of $498,336.96. Following the completion of the purchase, the director now directly owns 55,248 shares of the company’s stock, valued at approximately $498,336.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman H Lawrence Culp, Jr. bought 331,684 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The disclosure for this purchase can be found here. Over the last three months, insiders bought 801,068 shares of company stock worth $6,954,745. Insiders own 1.13% of the company’s stock.
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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