Bp Plc Sells 79,000 Shares of General Electric (GE)

Bp Plc reduced its stake in General Electric (NYSE:GE) by 11.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 606,000 shares of the conglomerate’s stock after selling 79,000 shares during the period. Bp Plc’s holdings in General Electric were worth $14,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the second quarter valued at $113,000. Ffcm LLC bought a new position in shares of General Electric during the second quarter valued at $114,000. Corbenic Partners LLC lifted its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new position in shares of General Electric during the third quarter valued at $164,000. Finally, Tuttle Tactical Management LLC bought a new position in shares of General Electric during the second quarter valued at $209,000. 55.63% of the stock is currently owned by hedge funds and other institutional investors.

General Electric (NYSE GE) opened at $18.76 on Friday. General Electric has a 1-year low of $17.25 and a 1-year high of $31.47. 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 firm has a market capitalization of $162,690.00, a PE ratio of 21.81, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.

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

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is 55.81%.

In other General Electric news, Director Francisco Dsouza bought 55,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last three months, insiders acquired 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by corporate insiders.

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

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

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