South State Corp decreased its stake in General Electric (NYSE:GE) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 407,312 shares of the conglomerate’s stock after selling 6,713 shares during the quarter. General Electric accounts for about 1.1% of South State Corp’s portfolio, making the stock its 22nd largest position. South State Corp’s holdings in General Electric were worth $9,848,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in GE. Torray LLC grew its holdings in shares of General Electric by 2.1% during the third quarter. Torray LLC now owns 560,775 shares of the conglomerate’s stock worth $13,560,000 after buying an additional 11,615 shares in the last quarter. Haverford Trust Co. grew its holdings in shares of General Electric by 0.6% during the third quarter. Haverford Trust Co. now owns 1,472,217 shares of the conglomerate’s stock worth $35,598,000 after buying an additional 8,591 shares in the last quarter. Eos Focused Equity Management L.P. grew its holdings in shares of General Electric by 43.2% during the third quarter. Eos Focused Equity Management L.P. now owns 105,592 shares of the conglomerate’s stock worth $2,553,000 after buying an additional 31,841 shares in the last quarter. Ashburton Jersey Ltd grew its holdings in shares of General Electric by 16.1% during the third quarter. Ashburton Jersey Ltd now owns 530,165 shares of the conglomerate’s stock worth $12,819,000 after buying an additional 73,335 shares in the last quarter. Finally, South Dakota Investment Council grew its holdings in shares of General Electric by 89.1% during the third quarter. South Dakota Investment Council now owns 1,680,375 shares of the conglomerate’s stock worth $40,631,000 after buying an additional 791,650 shares in the last quarter. 55.17% of the stock is currently owned by hedge funds and other institutional investors.
General Electric (GE) opened at $14.62 on Friday. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. The firm has a market capitalization of $125,658.51, a P/E ratio of -20.31, a price-to-earnings-growth ratio of 2.75 and a beta of 0.93. General Electric has a one year low of $14.23 and a one year high of $30.54.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the prior year, the firm posted $0.46 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. equities research analysts predict that General Electric will post 0.99 EPS for the current 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 paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.28%. General Electric’s dividend 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 cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.36% of the company’s stock.
GE has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Morningstar set a $23.50 price objective on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup decreased their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective for the company in a report on Monday, October 30th. Finally, UBS Group reiterated a “sell” rating and set a $18.00 price objective (down from $21.00) on shares of General Electric in a report on Monday, October 30th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $19.86.
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General Electric 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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