Putnam FL Investment Management Co. increased its position in shares of General Electric (NYSE:GE) by 17.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,675 shares of the conglomerate’s stock after acquiring an additional 6,886 shares during the period. Putnam FL Investment Management Co.’s holdings in General Electric were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of General Electric by 250.0% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 2,500 shares during the last quarter. Mackey Komara & Dankovich LLC acquired a new stake in General Electric in the fourth quarter worth $27,000. Edge Wealth Management LLC grew its holdings in General Electric by 47.4% in the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 1,300 shares during the period. SevenBridge Financial Group LLC grew its holdings in General Electric by 100.4% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 2,101 shares during the period. Finally, Executive Wealth Management LLC acquired a new stake in General Electric in the fourth quarter worth $36,000. Institutional investors and hedge funds own 57.87% of the company’s stock.
GE stock traded up $0.10 during midday trading on Friday, reaching $10.50. The company had a trading volume of 39,526,370 shares, compared to its average volume of 80,851,070. 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 has a 1 year low of $6.66 and a 1 year high of $14.29. The company has a market cap of $90.91 billion, a P/E ratio of 16.15, a P/E/G ratio of 2.34 and a beta of 0.98. The company’s 50-day moving average is $10.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be issued a $0.01 dividend. The ex-dividend date of this dividend is 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 6.15%.
In related news, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 25,000 shares in the company, valued at approximately $250,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders own 1.13% of the company’s stock.
GE has been the subject of a number of research reports. ValuEngine cut shares of General Electric from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Barclays lifted their price objective on shares of General Electric from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Gordon Haskett cut shares of General Electric to an “underperform” rating and set a $7.00 price objective for the company. in a report on Wednesday, March 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $6.00 price objective on shares of General Electric in a report on Wednesday, March 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $12.00 price objective on shares of General Electric in a report on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. General Electric has an average rating of “Hold” and a consensus price target of $11.89.
About General Electric
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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