Laurel Wealth Advisors Inc. Grows Position in General Electric (GE)

Share on StockTwits

Laurel Wealth Advisors Inc. raised its stake in General Electric (NYSE:GE) by 11.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,475 shares of the conglomerate’s stock after acquiring an additional 14,647 shares during the period. Laurel Wealth Advisors Inc.’s holdings in General Electric were worth $1,880,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FinTrust Investment Advisory Services LLC increased its stake in shares of General Electric by 12.2% in the 4th quarter. FinTrust Investment Advisory Services LLC now owns 30,097 shares of the conglomerate’s stock valued at $525,000 after purchasing an additional 3,270 shares during the last quarter. Dempze Nancy E increased its stake in shares of General Electric by 30.6% in the 4th quarter. Dempze Nancy E now owns 14,956 shares of the conglomerate’s stock valued at $261,000 after purchasing an additional 3,504 shares during the last quarter. Buckley Wealth Management LLC increased its stake in shares of General Electric by 1.3% in the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock valued at $3,669,000 after purchasing an additional 3,575 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of General Electric by 28.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock valued at $221,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Advisors Capital Management LLC increased its stake in shares of General Electric by 7.6% in the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock valued at $711,000 after purchasing an additional 3,714 shares during the last quarter. 54.87% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on GE. Stifel Nicolaus reiterated a “neutral” rating and issued a $15.00 price target on shares of General Electric in a research note on Friday, May 18th. MED upgraded General Electric from a “sell” rating to a “hold” rating and set a $15.00 price target on the stock in a research note on Thursday, July 12th. Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price target on shares of General Electric in a research note on Wednesday, June 27th. Cowen reiterated a “hold” rating and issued a $14.50 price target on shares of General Electric in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of General Electric in a research note on Tuesday, July 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $17.15.

In other news, Director H Lawrence Culp, Jr. acquired 191,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 24th. The shares were acquired at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.12% of the company’s stock.

Shares of GE stock opened at $12.30 on Tuesday. The firm has a market cap of $106.80 billion, a P/E ratio of 13.52, a PEG ratio of 2.33 and a beta of 1.00. General Electric has a twelve month low of $11.94 and a twelve month high of $25.30. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $30.10 billion for the quarter, compared to analyst estimates of $29.39 billion. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. General Electric’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS. equities research analysts expect that General Electric will post 0.96 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 25th. Investors of record on Monday, June 18th were given a dividend of $0.12 per share. The ex-dividend date was Friday, June 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.90%. General Electric’s dividend payout ratio is currently 45.71%.

General Electric Company Profile

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.

See Also: Diversification For Individual Investors

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).

Institutional Ownership by Quarter 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.

Leave a Reply