Domani Wealth LLC increased its stake in shares of General Electric (NYSE:GE) by 21.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,049 shares of the conglomerate’s stock after acquiring an additional 4,803 shares during the quarter. Domani Wealth LLC’s holdings in General Electric were worth $368,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Mount Yale Investment Advisors LLC bought a new position in General Electric during the first quarter valued at $116,000. Archford Capital Strategies LLC bought a new position in General Electric during the first quarter valued at $121,000. Blue Chip Wealth Management Inc. bought a new position in General Electric during the first quarter valued at $135,000. Harborview Advisors LLC bought a new position in General Electric during the first quarter valued at $137,000. Finally, Todd Asset Management LLC bought a new position in General Electric during the first quarter valued at $137,000. Hedge funds and other institutional investors own 53.74% of the company’s stock.
Several equities analysts have commented on the stock. Goldman Sachs Group reiterated a “neutral” rating and set a $14.00 price objective on shares of General Electric in a research report on Wednesday, June 27th. Royal Bank of Canada set a $15.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research report on Wednesday, July 11th. Barclays reiterated a “neutral” rating and set a $16.00 price objective on shares of General Electric in a research report on Monday, July 9th. Deutsche Bank set a $15.00 price objective on shares of General Electric and gave the company a “hold” rating in a research report on Thursday, July 12th. Finally, MED upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 price objective for the company in a research report on Thursday, July 12th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.26.
Shares of GE opened at $12.32 on Friday. General Electric has a twelve month low of $11.21 and a twelve month high of $23.84. The firm has a market capitalization of $98.03 billion, a PE ratio of 11.73, a PEG ratio of 2.14 and a beta of 0.97. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39.
General Electric (NYSE:GE) last announced its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the prior year, the firm posted $0.21 earnings per share. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities research analysts predict that General Electric will post 0.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s dividend payout ratio is currently 45.71%.
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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