Mount Vernon Associates Inc. MD Has $1.06 Million Stake in General Electric (GE)

Mount Vernon Associates Inc. MD lifted its holdings in shares of General Electric (NYSE:GE) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,615 shares of the conglomerate’s stock after buying an additional 2,810 shares during the period. General Electric comprises 1.7% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 28th biggest holding. Mount Vernon Associates Inc. MD owned approximately 0.06% of General Electric worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Toronto Dominion Bank increased its stake in General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares in the last quarter. Warren Averett Asset Management LLC increased its stake in General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Sabal Trust CO increased its stake in General Electric by 5.4% in the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock valued at $29,198,000 after purchasing an additional 55,049 shares in the last quarter. Destination Wealth Management increased its stake in General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Finally, Rockland Trust Co. increased its stake in General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after purchasing an additional 16,309 shares in the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.

General Electric (NYSE:GE) opened at $17.45 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The firm has a market capitalization of $150,547.41, a price-to-earnings ratio of 21.81, a P/E/G ratio of 1.88 and a beta of 1.06. General Electric has a 52-week low of $17.25 and a 52-week high of $31.83.

General Electric (NYSE:GE) last issued its earnings results 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). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. analysts predict that General Electric will post 1.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is currently 60.00%.

In related news, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was bought 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. Insiders purchased a total of 120,500 shares of company stock worth $2,183,220 over the last ninety days. Corporate insiders own 0.36% of the company’s stock.

GE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $22.00 target price on shares of General Electric in a report on Thursday, September 7th. Vetr cut General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price on the stock. in a report on Monday, September 25th. Credit Suisse Group reiterated an “outperform” rating and set a $30.00 target price (down previously from $33.00) on shares of General Electric in a report on Thursday, October 5th. Morgan Stanley lowered their target price on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Finally, Argus lowered their target price on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average price target of $23.39.

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About General Electric

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

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