Stokes & Hubbell Capital Management LLC Has $3.47 Million Position in General Electric (GE)

Stokes & Hubbell Capital Management LLC increased its position in shares of General Electric (NYSE:GE) by 17.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,348 shares of the conglomerate’s stock after buying an additional 21,831 shares during the period. Stokes & Hubbell Capital Management LLC’s holdings in General Electric were worth $3,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GE. Peak Financial Management Inc. grew its holdings in General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after purchasing an additional 25 shares during the period. Puplava Financial Services Inc. grew its holdings in General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after purchasing an additional 41 shares during the period. Cutter & CO Brokerage Inc. grew its holdings in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after purchasing an additional 67 shares during the period. Northwest Wealth Management LLC grew its holdings in General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 75 shares during the period. Finally, NorthRock Partners LLC grew its holdings in General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 80 shares during the period. 55.61% of the stock is owned by institutional investors and hedge funds.

In other news, Chairman John Leonard Flannery purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price 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 have purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by corporate insiders.

A number of research firms have commented on GE. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target for the company. in a report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and reduced their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 price target for the company in a report on Monday, October 23rd. Finally, Argus reduced their price target on shares of General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $23.39.

General Electric (GE) opened at $17.59 on Wednesday. The stock has a market cap of $154,016.23, a PE ratio of 14.32, a PEG ratio of 1.92 and a beta of 1.06. General Electric has a twelve month low of $17.46 and a twelve month high of $32.38. 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). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. sell-side analysts anticipate that General Electric will post 1.07 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 120.00%.

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