Zacks Investment Management Purchases 214,442 Shares of General Electric Company (GE)
Zacks Investment Management raised its position in General Electric Company (NYSE:GE) by 11.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,042,487 shares of the conglomerate’s stock after acquiring an additional 214,442 shares during the quarter. General Electric makes up 1.4% of Zacks Investment Management’s portfolio, making the stock its 17th biggest holding. Zacks Investment Management owned 3.00% of General Electric worth $55,168,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the first quarter worth about $106,000. Ffcm LLC bought a new position in shares of General Electric in the second quarter worth about $114,000. PHH Investments Ltd. raised its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after buying an additional 2,000 shares during the period. Tuttle Tactical Management LLC bought a new position in shares of General Electric in the second quarter worth about $209,000. Finally, Oakmont Partners LLC raised its stake in shares of General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after buying an additional 278 shares during the period. 55.74% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on GE shares. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of General Electric in a research note on Thursday, October 12th. J P Morgan Chase & Co cut their target price on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, November 1st. Vetr upgraded General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 target price for the company in a research report on Tuesday, October 10th. Citigroup set a $25.00 target price on General Electric and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 target price on General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus target price of $23.64.
General Electric Company (GE) opened at $17.71 on Friday. The firm has a market capitalization of $153,582.61, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a 1-year low of $17.46 and a 1-year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. equities research analysts expect that General Electric Company will post 1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.71%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio is presently 120.00%.
In other news, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John Leonard Flannery purchased 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the acquisition, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have acquired a total of 120,500 shares of company stock valued at $2,183,220 in the last 90 days. 0.36% of the stock is currently owned by company insiders.
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