Pure Financial Advisors Inc. purchased a new position in General Electric (NYSE:GE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,214 shares of the conglomerate’s stock, valued at approximately $207,000.
Several other institutional investors have also recently added to or reduced their stakes in GE. Mount Yale Investment Advisors LLC bought a new position in shares of General Electric in the first quarter worth $116,000. Santori & Peters Inc. bought a new position in shares of General Electric in the fourth quarter worth $120,000. Archford Capital Strategies LLC bought a new position in General Electric in the first quarter valued at $121,000. Blue Chip Wealth Management Inc. bought a new position in General Electric in the first quarter valued at $135,000. Finally, Harborview Advisors LLC bought a new position in General Electric in the first quarter valued at $137,000. 53.72% of the stock is currently owned by hedge funds and other institutional investors.
NYSE GE opened at $12.97 on Thursday. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39. General Electric has a 12-month low of $11.94 and a 12-month high of $25.30. The stock has a market cap of $110.88 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 2.42 and a beta of 1.00.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The business had revenue of $30.10 billion during the quarter, compared to analyst estimates of $29.39 billion. During the same period in the prior year, the business posted $0.21 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. sell-side analysts predict that General Electric will post 0.96 earnings per share for the current fiscal year.
A number of research firms recently commented on GE. JPMorgan Chase & Co. reissued a “sell” rating and issued a $11.00 target price on shares of General Electric in a research note on Tuesday, May 22nd. Citigroup reissued a “buy” rating on shares of General Electric in a research note on Tuesday, May 22nd. Goldman Sachs Group reissued a “neutral” rating and issued a $14.00 target price on shares of General Electric in a research note on Tuesday, May 22nd. Stifel Nicolaus reissued a “neutral” rating and issued a $15.00 target price on shares of General Electric in a research note on Friday, May 18th. Finally, UBS Group reissued a “neutral” rating and issued a $16.00 target price on shares of General Electric in a research note on Thursday, May 17th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $17.15.
In other General Electric news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the business’s stock in a transaction on Tuesday, July 24th. The stock was acquired at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.
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.
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