General Electric (GE) Position Cut by Private Advisory Group LLC

Private Advisory Group LLC trimmed its holdings in General Electric (NYSE:GE) by 14.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,964 shares of the conglomerate’s stock after selling 2,560 shares during the quarter. Private Advisory Group LLC’s holdings in General Electric were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Mcrae Capital Management Inc. boosted its stake in General Electric by 2.7% during the 2nd quarter. Mcrae Capital Management Inc. now owns 255,864 shares of the conglomerate’s stock valued at $6,911,000 after purchasing an additional 6,825 shares in the last quarter. Warren Averett Asset Management LLC boosted its stake in General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after purchasing an additional 6,799 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in General Electric by 2.1% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 169,864 shares of the conglomerate’s stock valued at $4,588,000 after purchasing an additional 3,435 shares in the last quarter. Cardinal Capital Management boosted its stake in General Electric by 4.9% during the 2nd quarter. Cardinal Capital Management now owns 189,261 shares of the conglomerate’s stock valued at $5,112,000 after purchasing an additional 8,884 shares in the last quarter. Finally, Stonebridge Capital Management Inc. boosted its stake in General Electric by 9.8% during the 2nd quarter. Stonebridge Capital Management Inc. now owns 309,534 shares of the conglomerate’s stock valued at $8,360,000 after purchasing an additional 27,675 shares in the last quarter. 55.17% of the stock is owned by institutional investors and hedge funds.

Shares of General Electric (NYSE GE) opened at $15.05 on Monday. The stock has a market capitalization of $130,514.88, a price-to-earnings ratio of 14.33, a PEG ratio of 2.86 and a beta of 0.93. General Electric has a 1-year low of $14.23 and a 1-year high of $30.59. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.

General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. General Electric’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 EPS. sell-side analysts expect that General Electric will post 0.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.19%. General Electric’s payout ratio is currently -66.67%.

In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.

GE has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Morningstar set a $23.50 price objective on General Electric and gave the company a “buy” rating in a research report on Tuesday, January 23rd. Citigroup cut their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price objective on General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $19.86.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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

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