Sheets Smith Wealth Management Increases Stake in General Electric (GE)
Sheets Smith Wealth Management increased its holdings in General Electric (NYSE:GE) by 30.9% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,004 shares of the conglomerate’s stock after purchasing an additional 4,960 shares during the period. Sheets Smith Wealth Management’s holdings in General Electric were worth $286,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Gulf International Bank UK Ltd boosted its position in General Electric by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock valued at $38,094,000 after buying an additional 67,257 shares during the period. Pure Financial Advisors Inc. purchased a new stake in General Electric during the 2nd quarter valued at $207,000. Filament LLC purchased a new stake in General Electric during the 2nd quarter valued at $154,000. Tributary Capital Management LLC boosted its position in General Electric by 5,184.5% during the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the period. Finally, Baldwin Investment Management LLC boosted its position in General Electric by 32.1% during the 1st quarter. Baldwin Investment Management LLC now owns 23,650 shares of the conglomerate’s stock valued at $319,000 after buying an additional 5,750 shares during the period. 53.70% of the stock is owned by institutional investors.
NYSE:GE opened at $12.17 on Friday. General Electric has a 12 month low of $11.94 and a 12 month high of $25.21. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.81 and a quick ratio of 1.51. The stock has a market capitalization of $105.67 billion, a PE ratio of 13.37, a P/E/G ratio of 2.30 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 3.94%. General Electric’s payout ratio is 45.71%.
Several equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of General Electric from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 5th. MED raised shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price target for the company in a research report on Thursday, July 12th. Goldman Sachs Group reissued a “neutral” rating and set a $14.00 price target on shares of General Electric in a research report on Wednesday, June 27th. Cowen reissued a “hold” rating and set a $14.50 price target on shares of General Electric in a research report on Friday, July 20th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a research report on Tuesday, July 24th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.34.
In other General Electric news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.12% of the stock is owned by company insiders.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
Further Reading: How much money do you need to begin day trading?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.