Point View Wealth Management Inc. lifted its stake in General Electric (NYSE:GE) by 29.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,046 shares of the conglomerate’s stock after buying an additional 9,427 shares during the period. Point View Wealth Management Inc.’s holdings in General Electric were worth $993,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Ffcm LLC bought a new stake in General Electric during the second quarter worth $114,000. MPS Loria Financial Planners LLC acquired a new position in shares of General Electric during the second quarter worth $113,000. Corbenic Partners LLC increased its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC acquired a new position in shares of General Electric during the third quarter worth $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of General Electric during the second quarter worth $209,000. Institutional investors and hedge funds own 54.98% of the company’s stock.
Shares of General Electric (GE) opened at $14.85 on Friday. The firm has a market capitalization of $128,780.00, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.78 and a beta of 0.93. General Electric has a 1-year low of $14.23 and a 1-year high of $30.59. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.23%. General Electric’s payout ratio is 44.44%.
In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased 58,870 shares of company stock valued at $1,049,050 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
Several research analysts have recently issued reports on the stock. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a report on Wednesday, January 10th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Barclays assumed coverage on shares of General Electric in a report on Thursday. They set an “equal weight” rating and a $16.00 price target for the company. Morgan Stanley downgraded shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target for the company. in a report on Monday, October 23rd. Finally, Stifel Nicolaus downgraded shares of General Electric from a “buy” rating to a “hold” rating and lowered their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $19.98.
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General Electric Company Profile
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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