Today: DORCHESTER WEALTH MANAGEMENT Co reached $5,830,000 position of General Electric Co. (GE)

Today: DORCHESTER WEALTH MANAGEMENT Co reached $5,830,000 position  of General Electric Co. (GE)

DORCHESTER WEALTH MANAGEMENT Co increased its position in General Electric Co. (NYSE:GE) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,199 shares of the company’s stock after buying an additional 2,215 shares during the period. General Electric makes up approximately 2.2% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 11th largest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in General Electric were worth $5,830,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of General Electric by 0.5% in the second quarter. Fisher Asset Management LLC now owns 31,314,984 shares of the company’s stock worth $1,008,656,000 after buying an additional 161,641 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock worth $153,380,000 after buying an additional 3,626,125 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of General Electric by 2.7% in the second quarter. Nisa Investment Advisors LLC now owns 3,055,791 shares of the company’s stock worth $96,194,000 after buying an additional 80,219 shares during the last quarter. Nordea Investment Management AB increased its position in shares of General Electric by 41.4% in the second quarter. Nordea Investment Management AB now owns 2,490,749 shares of the company’s stock worth $78,409,000 after buying an additional 729,800 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of General Electric by 4.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 2,380,298 shares of the company’s stock worth $74,932,000 after buying an additional 108,523 shares during the last quarter. Institutional investors own 55.81% of the company’s stock.

Shares of General Electric Co. (NYSE:GE) traded up 0.42% on Friday, reaching $28.89. 28,181,380 shares of the company were exchanged. The company has a market capitalization of $258.89 billion, a P/E ratio of 24.42 and a beta of 1.15. The stock has a 50 day moving average of $29.97 and a 200-day moving average of $30.69. General Electric Co. has a 52-week low of $27.10 and a 52-week high of $33.00.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the previous year, the company earned $0.31 earnings per share. General Electric’s quarterly revenue was up 14.6% compared to the same quarter last year. On average, analysts predict that General Electric Co. will post $1.50 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be given a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.92 dividend on an annualized basis and a yield of 3.18%. General Electric’s dividend payout ratio (DPR) is presently 77.97%.

A number of brokerages have recently issued reports on GE. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of General Electric in a research report on Tuesday, June 28th. Vetr raised General Electric from a “sell” rating to a “hold” rating and set a $31.67 price target on the stock in a research report on Thursday, July 21st. TheStreet raised General Electric from a “hold” rating to a “buy” rating in a research report on Friday, July 22nd. Credit Suisse Group AG reissued a “buy” rating on shares of General Electric in a research report on Saturday, July 9th. Finally, Zacks Investment Research raised General Electric from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Tuesday, September 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $32.79.

In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of General Electric stock in a transaction that occurred on Tuesday, July 26th. The stock was purchased at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the transaction, the chairman now directly owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

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