Sowell Financial Services LLC grew its holdings in General Electric (NYSE:GE) by 11.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 217,455 shares of the conglomerate’s stock after purchasing an additional 21,941 shares during the period. General Electric comprises approximately 1.1% of Sowell Financial Services LLC’s investment portfolio, making the stock its 26th biggest holding. Sowell Financial Services LLC’s holdings in General Electric were worth $4,353,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. MPS Loria Financial Planners LLC bought a new position in shares of General Electric in the second quarter valued at $113,000. Ffcm LLC bought a new position in shares of General Electric in the second quarter valued at $114,000. Corbenic Partners LLC grew its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new position in shares of General Electric in the third quarter valued at $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of General Electric in the third quarter valued at $204,000. Institutional investors own 54.98% of the company’s stock.
GE has been the subject of several analyst reports. JPMorgan Chase & Co. reissued a “sell” rating and issued a $16.00 target price (down from $17.00) on shares of General Electric in a research note on Monday, January 8th. Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, October 23rd. Stifel Nicolaus set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Finally, Morningstar set a $23.50 target price on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.31.
General Electric (NYSE GE) opened at $14.94 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. General Electric has a 52-week low of $14.23 and a 52-week high of $30.59. The company has a market cap of $129,560.95, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 2.83 and a beta of 0.93.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. equities analysts predict that General Electric will post 0.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.21%. General Electric’s payout ratio is presently -66.67%.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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