Mengis Capital Management Inc. Buys 3,200 Shares of General Electric Company (GE)
Mengis Capital Management Inc. increased its position in General Electric Company (NYSE:GE) by 5.6% during the third quarter, Holdings Channel reports. The firm owned 60,290 shares of the company’s stock after buying an additional 3,200 shares during the period. General Electric Company comprises approximately 1.5% of Mengis Capital Management Inc.’s holdings, making the stock its 25th largest position. Mengis Capital Management Inc.’s holdings in General Electric Company were worth $1,785,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Cable Hill Partners LLC boosted its stake in General Electric Company by 0.4% in the second quarter. Cable Hill Partners LLC now owns 4,447 shares of the company’s stock valued at $141,000 after buying an additional 19 shares during the last quarter. Catamount Wealth Management boosted its stake in General Electric Company by 34.8% in the second quarter. Catamount Wealth Management now owns 4,651 shares of the company’s stock valued at $146,000 after buying an additional 1,200 shares during the last quarter. Global X Management Co. LLC boosted its stake in General Electric Company by 58.6% in the second quarter. Global X Management Co. LLC now owns 5,058 shares of the company’s stock valued at $159,000 after buying an additional 1,868 shares during the last quarter. New Harbor Financial Group LLC boosted its stake in General Electric Company by 46.0% in the third quarter. New Harbor Financial Group LLC now owns 5,828 shares of the company’s stock valued at $172,000 after buying an additional 1,837 shares during the last quarter. Finally, Balentine LLC boosted its stake in General Electric Company by 62.2% in the second quarter. Balentine LLC now owns 5,936 shares of the company’s stock valued at $187,000 after buying an additional 2,277 shares during the last quarter. 53.36% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (NYSE:GE) opened at 31.36 on Friday. The firm’s 50-day moving average price is $31.56 and its 200-day moving average price is $30.77. The stock has a market cap of $277.42 billion, a PE ratio of 26.96 and a beta of 1.20. General Electric Company has a 52 week low of $27.10 and a 52 week high of $33.00.
General Electric Company (NYSE:GE) last issued its quarterly earnings data on Friday, October 21st. The company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. General Electric Company had a return on equity of 16.08% and a net margin of 8.93%. The company had revenue of $29.30 billion for the quarter, compared to analysts’ expectations of $29.64 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts predict that General Electric Company will post $1.49 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Shareholders of record on Tuesday, December 27th will be paid a dividend of $0.24 per share. This is a boost from General Electric Company’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, December 22nd. General Electric Company’s payout ratio is presently 83.48%.
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Several research firms have weighed in on GE. J P Morgan Chase & Co set a $29.00 price target on General Electric Company and gave the company a “sell” rating in a report on Friday. RBC Capital Markets reaffirmed a “buy” rating and issued a $37.00 price target on shares of General Electric Company in a report on Thursday, January 5th. Zacks Investment Research cut General Electric Company from a “hold” rating to a “sell” rating in a report on Tuesday, December 27th. Daiwa Capital Markets raised General Electric Company from a “hold” rating to an “outperform” rating in a report on Friday, December 16th. Finally, Sanford C. Bernstein raised General Electric Company from a “market perform” rating to an “outperform” rating and raised their price target for the company from $33.00 to $40.00 in a report on Friday, December 16th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.33.
In related news, Chairman Jeffrey R. Immelt acquired 50,000 shares of General Electric Company stock in a transaction on Wednesday, November 9th. The shares were bought at an average cost of $29.24 per share, with a total value of $1,462,000.00. Following the completion of the purchase, the chairman now directly owns 2,248,688 shares of the company’s stock, valued at approximately $65,751,637.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.
General Electric Company Company Profile
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