Beacon Investment Advisory Services Inc. grew its holdings in shares of General Electric (NYSE:GE) by 826.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 275,867 shares of the conglomerate’s stock after buying an additional 246,094 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in General Electric were worth $6,670,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Ffcm LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $114,000. MPS Loria Financial Planners LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $113,000. Corbenic Partners LLC raised its holdings in shares of General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC bought a new stake in shares of General Electric in the 3rd quarter valued at about $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of General Electric in the 2nd quarter valued at about $209,000. 56.42% of the stock is currently owned by hedge funds and other institutional investors.
General Electric (NYSE GE) opened at $15.10 on Tuesday. General Electric has a 52-week low of $13.95 and a 52-week high of $30.54. The stock has a market cap of $131,110.00, a P/E ratio of -50.33, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.18%. General Electric’s payout ratio is presently -160.00%.
GE has been the topic of a number of research analyst reports. Morningstar set a $23.50 target price on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, January 23rd. Citigroup lowered their price target on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Stifel Nicolaus set a $18.00 price target on shares of General Electric and gave the company a “neutral” rating in a report on Monday, December 11th. Cowen reissued a “market perform” rating and issued a $15.00 price target (down from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS Group initiated coverage on shares of General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price target on the stock. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $18.44.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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