Augustine Asset Management Inc. Raises Stake in General Electric Company (GE)
Augustine Asset Management Inc. boosted its position in General Electric Company (NYSE:GE) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,782 shares of the conglomerate’s stock after buying an additional 2,335 shares during the period. General Electric comprises approximately 3.1% of Augustine Asset Management Inc.’s holdings, making the stock its 9th largest position. Augustine Asset Management Inc.’s holdings in General Electric were worth $5,044,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Freestone Capital Holdings LLC boosted its stake in shares of General Electric by 58.6% in the fourth quarter. Freestone Capital Holdings LLC now owns 18,081 shares of the conglomerate’s stock worth $571,000 after buying an additional 6,679 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in shares of General Electric during the fourth quarter worth about $435,000. Cheviot Value Management LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $208,000. Discovery Capital Management LLC CT purchased a new stake in shares of General Electric during the fourth quarter worth about $29,719,000. Finally, Glassman Wealth Services boosted its stake in shares of General Electric by 9.6% in the fourth quarter. Glassman Wealth Services now owns 48,699 shares of the conglomerate’s stock worth $1,539,000 after buying an additional 4,250 shares in the last quarter. Institutional investors own 54.29% of the company’s stock.
Shares of General Electric Company (NYSE GE) traded down 0.40% on Friday, hitting $25.20. 19,217,278 shares of the stock traded hands. The firm has a market cap of $218.18 billion, a P/E ratio of 30.69 and a beta of 1.21. General Electric Company has a 52 week low of $25.19 and a 52 week high of $32.38. The stock has a 50-day moving average price of $26.28 and a 200 day moving average price of $28.52.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. Equities research analysts predict that General Electric Company will post $1.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Monday, June 19th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio is currently 118.52%.
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A number of equities research analysts have recently issued reports on the company. Cowen and Company restated a “hold” rating and set a $30.00 price objective on shares of General Electric in a report on Thursday, April 20th. Vetr cut General Electric from a “buy” rating to a “hold” rating and set a $30.43 price objective for the company. in a report on Friday, April 14th. Stifel Nicolaus boosted their price objective on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Bank of America Corporation cut General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $35.00 to $31.00 in a report on Tuesday, April 25th. Finally, Argus reduced their price objective on General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 24th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten 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 price target of $30.08.
In related news, Director William G. Beattie acquired 16,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was bought at an average cost of $28.05 per share, with a total value of $448,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Leonard Flannery acquired 103,983 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the completion of the acquisition, the chief executive officer now directly owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. Insiders have bought a total of 253,253 shares of company stock valued at $6,770,864 over the last ninety days. 0.36% of the stock is currently owned by insiders.
General Electric Company Profile
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