Uncommon Cents Investing LLC Acquires New Holdings in General Electric (NYSE:GE)
Uncommon Cents Investing LLC acquired a new stake in shares of General Electric (NYSE:GE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,098 shares of the conglomerate’s stock, valued at approximately $106,000.
A number of other institutional investors and hedge funds have also modified their holdings of GE. Nisa Investment Advisors LLC grew its stake in shares of General Electric by 2.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,489,900 shares of the conglomerate’s stock worth $26,144,000 after acquiring an additional 60,306 shares during the last quarter. Community Bank & Trust Waco Texas grew its stake in shares of General Electric by 4.7% in the second quarter. Community Bank & Trust Waco Texas now owns 35,118 shares of the conglomerate’s stock worth $369,000 after acquiring an additional 1,585 shares during the last quarter. Nexus Investment Management Inc. grew its stake in shares of General Electric by 4.8% in the second quarter. Nexus Investment Management Inc. now owns 819,735 shares of the conglomerate’s stock worth $8,607,000 after acquiring an additional 37,850 shares during the last quarter. Lenox Wealth Advisors LLC grew its stake in shares of General Electric by 3,735.0% in the second quarter. Lenox Wealth Advisors LLC now owns 3,835 shares of the conglomerate’s stock worth $40,000 after acquiring an additional 3,735 shares during the last quarter. Finally, Evolution Wealth Advisors LLC grew its stake in shares of General Electric by 36.5% in the second quarter. Evolution Wealth Advisors LLC now owns 4,779 shares of the conglomerate’s stock worth $50,000 after acquiring an additional 1,279 shares during the last quarter. 57.81% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on GE shares. Citigroup set a $14.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Wednesday, June 19th. UBS Group set a $115.00 target price on Entergy and gave the stock a “buy” rating in a research report on Monday, July 15th. Cowen reaffirmed a “hold” rating and issued a $103.00 target price on shares of United Therapeutics in a research report on Wednesday, May 1st. Deutsche Bank cut Cogent Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. General Electric has a consensus rating of “Hold” and a consensus target price of $11.62.
Shares of NYSE GE traded down $0.09 during midday trading on Monday, reaching $10.42. 22,325,715 shares of the company traded hands, compared to its average volume of 38,446,140. The firm has a market capitalization of $91.66 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 2.39 and a beta of 1.03. The business’s 50-day moving average price is $10.32. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The company has a current ratio of 1.77, a quick ratio of 1.50 and a debt-to-equity ratio of 1.62.
General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. The company had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $0.16 earnings per share. Equities analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. General Electric’s payout ratio is presently 6.15%.
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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