Heritage Investors Management Corp Acquires 33,308 Shares of General Electric (GE)

Heritage Investors Management Corp grew its holdings in shares of General Electric (NYSE:GE) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 716,391 shares of the conglomerate’s stock after buying an additional 33,308 shares during the quarter. Heritage Investors Management Corp’s holdings in General Electric were worth $17,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Peak Financial Management Inc. raised its position in shares of General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares in the last quarter. Puplava Financial Services Inc. raised its position in shares of General Electric by 0.4% during the 2nd quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock valued at $303,000 after buying an additional 41 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares in the last quarter. Northwest Wealth Management LLC raised its position in shares of General Electric by 0.8% during the 2nd quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock valued at $254,000 after buying an additional 75 shares in the last quarter. Finally, NorthRock Partners LLC raised its position in shares of General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 55.63% of the company’s stock.

General Electric (GE) opened at $19.02 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The company has a market cap of $164,940.00, a PE ratio of 22.12, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. General Electric has a one year low of $17.25 and a one year high of $31.47.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. sell-side analysts anticipate that General Electric will post 1.07 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.52%. General Electric’s dividend payout ratio is currently 55.81%.

In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 120,500 shares of company stock worth $2,183,220 over the last 90 days. Insiders own 0.36% of the company’s stock.

A number of analysts recently weighed in on GE shares. Vetr lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price objective on the stock. in a research report on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and issued a $30.00 price objective (down from $33.00) on shares of General Electric in a research report on Thursday, October 5th. JPMorgan Chase & Co. set a $22.00 price objective on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Morgan Stanley reduced their price objective on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Monday, October 2nd. Finally, Argus reduced their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $23.19.

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