Wetherby Asset Management Inc. Has $1.41 Million Position in General Electric (NYSE:GE)

Wetherby Asset Management Inc. increased its holdings in shares of General Electric (NYSE:GEGet Rating) by 6.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,388 shares of the conglomerate’s stock after buying an additional 989 shares during the period. Wetherby Asset Management Inc.’s holdings in General Electric were worth $1,408,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GE. Strategic Financial Services Inc boosted its holdings in shares of General Electric by 2.8% during the fourth quarter. Strategic Financial Services Inc now owns 3,810 shares of the conglomerate’s stock worth $360,000 after acquiring an additional 104 shares during the period. Tandem Capital Management Corp ADV raised its position in General Electric by 0.9% in the first quarter. Tandem Capital Management Corp ADV now owns 13,373 shares of the conglomerate’s stock valued at $1,191,000 after purchasing an additional 125 shares during the last quarter. Hanson & Doremus Investment Management grew its holdings in General Electric by 2.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 6,864 shares of the conglomerate’s stock worth $628,000 after acquiring an additional 132 shares during the last quarter. Woodstock Corp increased its holdings in General Electric by 0.7% in the first quarter. Woodstock Corp now owns 20,295 shares of the conglomerate’s stock valued at $1,857,000 after purchasing an additional 134 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of General Electric by 1.6% in the first quarter. Assenagon Asset Management S.A. now owns 8,679 shares of the conglomerate’s stock worth $794,000 after acquiring an additional 134 shares during the period. 67.09% of the stock is owned by institutional investors.

General Electric Stock Performance

Shares of NYSE GE opened at $74.04 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.13. The company has a market capitalization of $81.19 billion, a PE ratio of -17.46, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09. General Electric has a 1 year low of $59.93 and a 1 year high of $116.17. The company’s fifty day moving average price is $71.83 and its 200 day moving average price is $78.39.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, beating the consensus estimate of $0.38 by $0.40. The business had revenue of $18.65 billion for the quarter, compared to analyst estimates of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. On average, research analysts predict that General Electric will post 2.74 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be issued a $0.08 dividend. The ex-dividend date is Monday, September 26th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. General Electric’s payout ratio is currently -7.55%.

Wall Street Analyst Weigh In

GE has been the topic of a number of research reports. Wells Fargo & Company upped their price target on General Electric to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. UBS Group lowered their price objective on General Electric from $113.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, August 4th. Morgan Stanley reduced their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, July 12th. Sanford C. Bernstein began coverage on General Electric in a report on Tuesday, August 16th. They issued an “outperform” rating and a $100.00 price target on the stock. Finally, Barclays reduced their target price on General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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