General Electric (GE) Shares Bought by Highstreet Asset Management Inc.

Highstreet Asset Management Inc. boosted its holdings in General Electric (NYSE:GE) by 18.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,189 shares of the conglomerate’s stock after purchasing an additional 15,158 shares during the quarter. Highstreet Asset Management Inc. owned 0.14% of General Electric worth $2,302,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after purchasing an additional 3,297,890 shares in the last quarter. BlackRock Inc. raised its stake in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares in the last quarter. Capital World Investors raised its stake in General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares in the last quarter. Capital Research Global Investors raised its stake in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares in the last quarter. Institutional investors and hedge funds own 55.62% of the company’s stock.

In related news, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were 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 have purchased a total of 120,500 shares of company stock worth $2,183,220 over the last ninety days. 0.36% of the stock is currently owned by insiders.

Shares of General Electric (NYSE:GE) opened at $18.15 on Thursday. The stock has a market cap of $157,400.00, a P/E ratio of 21.10, a P/E/G ratio of 1.99 and a beta of 1.07. 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 has a 1-year low of $17.25 and a 1-year high of $31.83.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. research analysts anticipate that General Electric will post 1.07 earnings per share for the current fiscal year.

The business 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 dividend yield of 2.64%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 55.81%.

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

TRADEMARK VIOLATION WARNING: This piece of content was reported by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.com-unik.info/2018/01/04/general-electric-ge-shares-bought-by-highstreet-asset-management-inc.html.

General Electric Profile

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit