Rand Wealth LLC decreased its holdings in shares of General Electric Company (NYSE:GE) by 9.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 452,909 shares of the conglomerate’s stock after selling 49,097 shares during the period. General Electric makes up about 1.7% of Rand Wealth LLC’s holdings, making the stock its 13th biggest position. Rand Wealth LLC’s holdings in General Electric were worth $12,233,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BerganKDV Wealth Management LLC grew its holdings in shares of General Electric by 0.3% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after acquiring an additional 36 shares during the period. Puplava Financial Services Inc. grew its holdings in shares of General Electric by 0.4% in the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after acquiring an additional 41 shares during the period. Northwest Wealth Management LLC grew its holdings in shares of General Electric by 0.8% in the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after acquiring an additional 75 shares during the period. Insight 2811 Inc. grew its holdings in shares of General Electric by 0.3% in the 1st quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after acquiring an additional 118 shares during the period. Finally, LifePlan Financial Group Inc grew its holdings in shares of General Electric by 0.7% in the 2nd quarter. LifePlan Financial Group Inc now owns 22,693 shares of the conglomerate’s stock worth $613,000 after acquiring an additional 154 shares during the period. Institutional investors own 54.53% of the company’s stock.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate 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 analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s payout ratio is 120.00%.
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A number of equities research analysts recently weighed in on GE shares. UBS AG restated a “buy” rating and issued a $31.00 price target (down previously from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Bank of America Corporation upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, October 23rd. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target on the stock. in a report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a report on Friday, July 7th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $33.00 price target on shares of General Electric in a report on Saturday, July 22nd. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $25.84.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of General Electric stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at approximately $4,507,141.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Leonard Flannery bought 103,983 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now directly owns 509,430 shares in the company, valued at $13,021,030.80. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
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