Beaton Management Co. Inc. Purchases Shares of 88,277 General Electric Company (GE)
Beaton Management Co. Inc. purchased a new position in shares of General Electric Company (NYSE:GE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 88,277 shares of the conglomerate’s stock, valued at approximately $2,384,000. General Electric comprises 2.4% of Beaton Management Co. Inc.’s investment portfolio, making the stock its 11th largest holding. Beaton Management Co. Inc. owned about 0.13% of General Electric as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. acquired a new position in General Electric in the first quarter valued at approximately $106,000. PHH Investments Ltd. lifted its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the period. Ffcm LLC acquired a new position in General Electric in the second quarter valued at approximately $114,000. Corbenic Partners LLC lifted its stake in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the period. Finally, Flaharty Asset Management LLC acquired a new position in General Electric in the first quarter valued at approximately $226,000. Institutional investors own 55.74% of the company’s stock.
GE has been the topic of a number of research reports. J P Morgan Chase & Co reaffirmed an “underweight” rating and set a $22.00 target price on shares of General Electric in a research report on Thursday, September 7th. Deutsche Bank reaffirmed a “sell” rating and set a $21.00 target price (down from $24.00) on shares of General Electric in a research report on Monday, September 11th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Finally, Argus lowered their target price on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus target price of $23.39.
Shares of General Electric Company (NYSE GE) traded down $0.08 on Thursday, reaching $17.68. The company had a trading volume of 10,377,372 shares, compared to its average volume of 45,325,723. General Electric Company has a twelve month low of $17.46 and a twelve month high of $32.38. The stock has a market cap of $155,317.05, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. research analysts predict that General Electric Company will post 1.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is presently 120.00%.
In other news, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares in the company, valued at approximately $10,513,964.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction dated Monday, November 20th. The stock was purchased 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. In the last 90 days, insiders bought 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is currently owned by company insiders.
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