Brave Asset Management Inc. grew its stake in shares of General Electric (NYSE:GE) by 57.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 64,546 shares of the conglomerate’s stock after buying an additional 23,500 shares during the period. Brave Asset Management Inc.’s holdings in General Electric were worth $878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently bought and sold shares of the business. Mount Yale Investment Advisors LLC bought a new position in General Electric in the first quarter valued at $116,000. Santori & Peters Inc. bought a new position in General Electric in the fourth quarter valued at $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. Hedge funds and other institutional investors own 53.74% of the company’s stock.
NYSE GE opened at $12.68 on Friday. 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 $25.21. The stock has a market cap of $109.49 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96.
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.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 3.79%. General Electric’s payout ratio is 45.71%.
GE has been the topic of a number of research analyst reports. Citigroup reduced their target price on General Electric from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Gabelli reissued a “buy” rating on shares of General Electric in a research note on Wednesday, July 18th. Morningstar set a $15.70 target price on General Electric and gave the company a “buy” rating in a research note on Monday, August 13th. UBS Group set a $16.00 target price on General Electric and gave the company a “hold” rating in a research note on Friday, June 1st. Finally, MED raised General Electric from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a research note on Thursday, July 12th. Four 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 stock. General Electric has a consensus rating of “Hold” and a consensus target price of $16.99.
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.
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.
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