Northwest Investment Counselors LLC Increases Holdings in General Electric (NYSE:GE)

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Northwest Investment Counselors LLC grew its holdings in shares of General Electric (NYSE:GE) by 16.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 134,424 shares of the conglomerate’s stock after purchasing an additional 18,810 shares during the period. Northwest Investment Counselors LLC’s holdings in General Electric were worth $1,830,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Tributary Capital Management LLC increased its holdings in shares of General Electric by 5,184.5% during the second quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after purchasing an additional 72,065 shares during the period. Bessemer Group Inc. boosted its stake in General Electric by 29.4% during the second quarter. Bessemer Group Inc. now owns 332,430 shares of the conglomerate’s stock valued at $4,524,000 after buying an additional 75,602 shares in the last quarter. Benchmark Capital Advisors boosted its stake in General Electric by 65.8% during the second quarter. Benchmark Capital Advisors now owns 83,025 shares of the conglomerate’s stock valued at $1,130,000 after buying an additional 32,950 shares in the last quarter. Nwam LLC boosted its stake in General Electric by 14.3% during the second quarter. Nwam LLC now owns 58,674 shares of the conglomerate’s stock valued at $799,000 after buying an additional 7,335 shares in the last quarter. Finally, DT Investment Partners LLC boosted its stake in General Electric by 21.5% during the second quarter. DT Investment Partners LLC now owns 229,605 shares of the conglomerate’s stock valued at $3,125,000 after buying an additional 40,642 shares in the last quarter. 53.74% of the stock is currently owned by institutional investors.

In related news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was acquired at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.12% of the company’s stock.

Several research analysts recently weighed in on the company. Credit Suisse Group assumed coverage on General Electric in a research note on Friday. They set a “neutral” rating and a $14.00 target price for the company. Gordon Haskett assumed coverage on General Electric in a research note on Friday. They set a “sell” rating for the company. Citigroup decreased their target price on General Electric from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays raised General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, October 8th. Finally, Morningstar set a $16.10 target price on General Electric and gave the company a “buy” rating in a research note on Monday, October 8th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.26.

Shares of NYSE:GE traded down $0.40 during midday trading on Friday, reaching $12.32. The company had a trading volume of 121,772,822 shares, compared to its average volume of 76,816,289. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39. General Electric has a 1-year low of $11.21 and a 1-year high of $23.84. The firm has a market capitalization of $98.03 billion, a price-to-earnings ratio of 11.73, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The business had revenue of $30.10 billion during the quarter, compared to analyst estimates of $29.39 billion. During the same quarter last year, the company posted $0.21 EPS. General Electric’s revenue for the quarter was up 3.5% on a year-over-year basis. Equities analysts predict that General Electric will post 0.96 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.90%. General Electric’s dividend payout ratio (DPR) is 45.71%.

General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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

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