ZWJ Investment Counsel Inc. Boosts Holdings in General Electric (NYSE:GE)

ZWJ Investment Counsel Inc. raised its holdings in General Electric (NYSE:GE) by 16.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 93,732 shares of the conglomerate’s stock after acquiring an additional 13,126 shares during the period. ZWJ Investment Counsel Inc.’s holdings in General Electric were worth $984,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Beacon Pointe Wealth Advisors LLC purchased a new position in General Electric in the fourth quarter worth about $411,000. Atwood & Palmer Inc. grew its position in General Electric by 7.7% in the fourth quarter. Atwood & Palmer Inc. now owns 21,061 shares of the conglomerate’s stock worth $159,000 after acquiring an additional 1,500 shares in the last quarter. Good Life Advisors LLC grew its position in General Electric by 5.2% in the fourth quarter. Good Life Advisors LLC now owns 59,339 shares of the conglomerate’s stock worth $449,000 after acquiring an additional 2,908 shares in the last quarter. Partnervest Advisory Services LLC grew its position in General Electric by 56.3% in the fourth quarter. Partnervest Advisory Services LLC now owns 102,400 shares of the conglomerate’s stock worth $775,000 after acquiring an additional 36,898 shares in the last quarter. Finally, Financial Counselors Inc. grew its position in General Electric by 34.1% in the fourth quarter. Financial Counselors Inc. now owns 505,364 shares of the conglomerate’s stock worth $3,826,000 after acquiring an additional 128,550 shares in the last quarter. 57.81% of the stock is currently owned by institutional investors.

NYSE GE traded down $0.08 during trading on Friday, hitting $10.00. The stock had a trading volume of 64,290,489 shares, compared to its average volume of 50,984,664. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.50. The stock has a market cap of $87.97 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 2.23 and a beta of 1.03. General Electric has a one year low of $6.66 and a one year high of $13.78. The firm’s 50 day moving average price is $10.35.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. On average, sell-side analysts expect that General Electric will post 0.62 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, June 28th. General Electric’s payout ratio is currently 6.15%.

In other General Electric news, Director Edward P. Garden sold 3,370,314 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $9.53, for a total value of $32,119,092.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of General Electric stock in a transaction that occurred 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 sale, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $250,500. The disclosure for this sale can be found here. 1.13% of the stock is owned by company insiders.

GE has been the subject of several recent research reports. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Wednesday. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a research report on Wednesday, June 19th. Deutsche Bank set a $10.00 price target on General Electric and gave the stock a “hold” rating in a research report on Thursday, May 2nd. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Thursday, June 13th. Finally, UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.68.

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

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