Sheets Smith Wealth Management Boosts Stake in General Electric Company (GE)

Sheets Smith Wealth Management boosted its stake in General Electric Company (NYSE:GE) by 16.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 69,316 shares of the conglomerate’s stock after buying an additional 9,687 shares during the period. Sheets Smith Wealth Management’s holdings in General Electric Company were worth $2,066,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornercap Investment Counsel Inc. boosted its stake in shares of General Electric Company by 1.5% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 7,488 shares of the conglomerate’s stock valued at $237,000 after buying an additional 111 shares during the period. Mastrapasqua Asset Management Inc. boosted its stake in shares of General Electric Company by 0.8% in the third quarter. Mastrapasqua Asset Management Inc. now owns 19,185 shares of the conglomerate’s stock valued at $568,000 after buying an additional 155 shares during the period. Marcus Capital LLC boosted its stake in shares of General Electric Company by 0.3% in the third quarter. Marcus Capital LLC now owns 73,950 shares of the conglomerate’s stock valued at $2,190,000 after buying an additional 200 shares during the period. Godshalk Welsh Capital Management Inc. boosted its stake in shares of General Electric Company by 0.4% in the third quarter. Godshalk Welsh Capital Management Inc. now owns 56,400 shares of the conglomerate’s stock valued at $1,671,000 after buying an additional 200 shares during the period. Finally, Auxier Asset Management boosted its stake in shares of General Electric Company by 1.9% in the fourth quarter. Auxier Asset Management now owns 12,768 shares of the conglomerate’s stock valued at $403,000 after buying an additional 233 shares during the period. Institutional investors own 55.06% of the company’s stock.

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

Shares of General Electric Company (NYSE:GE) traded down 0.69% on Monday, reaching $28.80. 30,504,130 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $28.29 and its 200-day moving average price is $29.89. The company has a market capitalization of $250.10 billion, a P/E ratio of 29.33 and a beta of 1.25. General Electric Company has a 12 month low of $27.10 and a 12 month high of $33.00.

General Electric Company (NYSE:GE) last announced its quarterly earnings results on Friday, April 21st. The conglomerate reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. General Electric Company had a return on equity of 16.59% and a net margin of 7.48%. The company had revenue of $27.66 billion for the quarter, compared to the consensus estimate of $26.37 billion. During the same quarter last year, the company posted $0.21 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, equities analysts anticipate that General Electric Company will post $1.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.33%. General Electric Company’s dividend payout ratio (DPR) is presently 97.96%.

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Several research firms have weighed in on GE. Vetr downgraded shares of General Electric Company from a “buy” rating to a “hold” rating and set a $29.97 target price for the company. in a report on Monday. Cowen and Company restated a “market perform” rating and set a $30.00 target price on shares of General Electric Company in a report on Tuesday, June 13th. Stifel Nicolaus restated a “buy” rating on shares of General Electric Company in a report on Wednesday, June 14th. Bank of America Corporation reiterated a “neutral” rating and set a $31.00 price target on shares of General Electric Company in a report on Tuesday, June 13th. Finally, BidaskClub upgraded shares of General Electric Company from a “strong sell” rating to a “sell” rating in a report on Saturday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $31.41.

In other General Electric Company news, Director William G. Beattie acquired 4,000 shares of General Electric Company stock in a transaction dated Wednesday, May 17th. The stock was bought at an average cost of $27.70 per share, with a total value of $110,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marijn E. Dekkers acquired 20,000 shares of General Electric Company stock in a transaction dated Monday, April 24th. The stock was acquired at an average cost of $29.90 per share, with a total value of $598,000.00. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $29,900. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 140,000 shares of company stock worth $3,964,600. Corporate insiders own 0.36% of the company’s stock.

General Electric Company Company Profile

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