Toronto Dominion Bank expanded its position in General Electric (NYSE: GE) by 24.6% in the first quarter, according to the company in its most recent release to the Securities and Exchange Commission (SEC). The institutional investor owned 4,856,067 shares of the conglomerate after purchasing another 957,799 shares during the period. Toronto Dominion Bank owned approximately 0.06% of General Electric for $ 65.444,000 at the end of the most recent quarter.
Several other institutional investors have also recently changed their holdings to the company. Graybill Bartz & Assoc Ltd. increased its position in General Electric in the fourth quarter by 2.4%. Graybill Bartz & Assoc Ltd. now owns 125,984 shares of the conglomerate with a value of $ 2,198,000 after buying 2,925 additional shares during the last quarter. FinTrust Investment Advisory Services LLC increased its position in General Electric by 12.2% in the fourth quarter. FinTrust Investment Advisory Services LLC now owns 30,097 shares of the conglomerate with a value of $ 525,000 after the purchase of another 3,270 shares in the last quarter. Dempze Nancy E increased its position in General Electric by 30.6% in the fourth quarter. Dempze Nancy E now owns 14,956 shares of the conglomerate with a value of $ 261,000 after the purchase of 3,504 additional shares during the last quarter. Buckley Wealth Management LLC increased its position in General Electric by 1.3% in the first quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate with a value of $ 3,669,000 after buying 3,575 additional shares in the last quarter. Finally, Cambridge Advisors Inc. increased its position in General Electric with 11.1% in the fourth quarter. Cambridge Advisors Inc. now owns 37,009 shares of the conglomerate in shares worth $ 646,000 after buying 3,686 additional during the last quarter. Institutional investors own 54.01% of the company's shares.
General Electric shares opened at 12.30 on Monday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81. The company has a market capitalization of $ 110.88 billion, a PE ratio of 11.71, a PEG ratio of 2.41 and a beta of 1.00. General Electric has a 12 month low of $ 11.94 and a 12 month high of $ 25.30.
General Electric (NYSE: GE) last published its quarterly results on Friday, July 20. The conglomerate reported $ 0.19 earnings per share (EPS) for the quarter and outpaced the consensus estimate of $ 0.18 with $ 0.01. The company had sales of $ 30.10 billion during the quarter compared with analysts' expectations of $ 29.39 billion. General Electric had a positive return on shareholders' equity of 10.40% and a negative net margin of 6.59%. The company's turnover increased by 3.5% in the quarter compared to the same quarter last year. During the same period last year, the company recorded $ 0.21 earnings per share. analysts expect General Electric to publish 0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid out on Wednesday 25 July. Investors of record on Monday, June 18 were paid a dividend of $ 0.12. This represents a $ 0.48 dividend on an annual basis and a dividend yield of 3.90%. The ex-dividend date was Friday, June 15. The dividend distribution ratio of General Electric (DPR) is currently 45.71%.
A number of equity analysts have put the company under heavy pressure. Stifel Nicolaus redefined a "neutral" rating and set a price target of $ 15.00 on shares of General Electric in a research report on Friday, May 18. MED took General Electric from a "sell" classification to a "hold" classification and set a price target of $ 15.00 on the shares in a research report on Thursday 12 July. Goldman Sachs Group has redefined a "neutral" rating and set a price target of $ 14.00 on General Electric shares in a research report on Wednesday, June 27th. Cowen re-issued the "hold" rating and set a $ 14.50 price target on General Electric shares in a research report on Friday, July 20. Finally, JP Morgan Chase & Co. confirmed. on July 24 an "underweight" rating on shares of General Electric in a research report. Four investment analysts have rated the shares with a sell rating, fifteen have given a hold rating, four have received a buy rating and one has given a strong buy-rating to the shares. The stock currently has an average rating of "Hold" and a consensus target price of $ 17.15.
In related news, director H Lawrence Culp, Jr. 191,000 shares of the company's shares bought in a transaction that took place on Tuesday 24 July. The share was acquired at an average cost of $ 13.04 per share, for a total transaction of $ 2,490,640.00. The transaction was disclosed in a legal application to the Securities & Exchange Commission, which is available on the SEC website. Insiders own 1.12% of the shares of the company.
General Electric Company Profile
General Electric Company operates worldwide as a digital industrial company. It works on the basis of Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting and Capital. The Power segment offers technologies, solutions and services related to energy production, including gas and steam turbines, engines, generators and high-voltage equipment; and power generation and digital solutions.
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