General Electric Company (GE) Holdings Lifted by Washington Capital Management Inc.

Washington Capital Management Inc. boosted its stake in shares of General Electric Company (NYSE:GE) by 24.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,765 shares of the conglomerate’s stock after acquiring an additional 15,590 shares during the quarter. General Electric accounts for 2.4% of Washington Capital Management Inc.’s portfolio, making the stock its 16th largest position. Washington Capital Management Inc.’s holdings in General Electric were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. BerganKDV Wealth Management LLC increased its stake in shares of General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock valued at $319,000 after buying an additional 36 shares in the last quarter. Puplava Financial Services Inc. increased its stake in shares of General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares in the last quarter. Northwest Wealth Management LLC increased its stake in shares of General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares in the last quarter. Insight 2811 Inc. increased its stake in shares of General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock valued at $1,126,000 after buying an additional 118 shares in the last quarter. Finally, LifePlan Financial Group Inc increased its stake in shares of General Electric by 0.7% in the second quarter. LifePlan Financial Group Inc now owns 22,693 shares of the conglomerate’s stock valued at $613,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 54.53% of the company’s stock.

A number of brokerages have recently weighed in on GE. Morgan Stanley restated an “equal weight” rating and issued a $27.00 target price on shares of General Electric in a research note on Monday, July 17th. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the company a “sell” rating in a research note on Tuesday, September 19th. Citigroup Inc. set a $28.00 target price on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS AG lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Finally, Stifel Nicolaus lowered General Electric from a “buy” rating to a “hold” rating and lowered their target price for the company from $26.00 to $22.00 in a research note on Tuesday, October 24th. Six research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $26.02.

In related news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the sale, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Leonard Flannery bought 103,983 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average price of $25.56 per share, for a total transaction of $2,657,805.48. Following the transaction, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.

General Electric Company (NYSE GE) opened at 20.16 on Wednesday. The company has a market cap of $174.54 billion, a PE ratio of 24.56 and a beta of 1.19. The firm’s 50-day moving average price is $23.49 and its 200-day moving average price is $26.09. General Electric Company has a one year low of $20.05 and a one year high of $32.38.

General Electric (NYSE:GE) last announced its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.73%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that General Electric Company will post $1.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 4.76%. General Electric’s payout ratio is 120.00%.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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