Destination Wealth Management Has $98,000 Stake in General Electric (NYSE:GE)

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Destination Wealth Management grew its holdings in General Electric (NYSE:GE) by 968.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,348 shares of the conglomerate’s stock after purchasing an additional 8,473 shares during the period. Destination Wealth Management’s holdings in General Electric were worth $98,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gilman Hill Asset Management LLC lifted its holdings in shares of General Electric by 7.2% in the 4th quarter. Gilman Hill Asset Management LLC now owns 19,444 shares of the conglomerate’s stock valued at $147,000 after acquiring an additional 1,300 shares during the last quarter. GWM Advisors LLC lifted its holdings in shares of General Electric by 68.5% in the 4th quarter. GWM Advisors LLC now owns 79,767 shares of the conglomerate’s stock valued at $604,000 after acquiring an additional 32,433 shares during the last quarter. Hikari Power Ltd lifted its holdings in shares of General Electric by 274.1% in the 4th quarter. Hikari Power Ltd now owns 1,951,080 shares of the conglomerate’s stock valued at $14,770,000 after acquiring an additional 1,429,480 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in shares of General Electric by 5.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 3,619,662 shares of the conglomerate’s stock valued at $27,184,000 after acquiring an additional 173,600 shares during the last quarter. Finally, Ellis Investment Partners LLC bought a new position in shares of General Electric in the 4th quarter valued at about $132,000. Institutional investors own 57.85% of the company’s stock.

A number of research analysts recently commented on GE shares. UBS Group set a $115.00 price target on shares of Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Deutsche Bank downgraded shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Cowen reaffirmed a “hold” rating and issued a $103.00 price target on shares of United Therapeutics in a report on Wednesday, May 1st. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. Finally, JPMorgan Chase & Co. set a $60.00 price objective on shares of Bayerische Motoren Werke and gave the stock a “sell” rating in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and an average price target of $11.62.

Shares of NYSE:GE traded up $0.41 during trading on Tuesday, reaching $10.62. 2,308,295 shares of the company were exchanged, compared to its average volume of 35,838,980. The company has a market capitalization of $87.56 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 2.28 and a beta of 1.03. The business’s fifty day simple moving average is $10.27. General Electric has a 12-month low of $6.66 and a 12-month high of $13.78. The company has a quick ratio of 1.50, a current ratio of 1.77 and a debt-to-equity ratio of 1.62.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. The business had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.16 earnings per share. On average, sell-side analysts expect that General Electric will post 0.61 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Friday, June 28th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

In related news, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now directly owns 25,000 shares in the company, valued at $250,500. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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