Union Bankshares Corp Sells 102,245 Shares of General Electric (GE)

Union Bankshares Corp cut its stake in General Electric (NYSE:GE) by 62.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,461 shares of the conglomerate’s stock after selling 102,245 shares during the quarter. Union Bankshares Corp’s holdings in General Electric were worth $1,055,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of GE. Ffcm LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $114,000. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $113,000. Corbenic Partners LLC increased its position in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the last quarter. Bristlecone Advisors LLC acquired a new stake in shares of General Electric during the 3rd quarter worth about $164,000. Finally, Tuttle Tactical Management LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $209,000. 56.28% of the stock is owned by institutional investors and hedge funds.

GE stock opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The stock has a market capitalization of $122,163.84, a PE ratio of 13.40, a PEG ratio of 2.67 and a beta of 1.00. General Electric has a 52 week low of $13.62 and a 52 week high of $30.54.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company 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 11.60%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. sell-side analysts expect that General Electric will post 0.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s payout ratio is presently -66.67%.

A number of brokerages recently issued reports on GE. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a research report on Wednesday, January 10th. JPMorgan Chase & Co. reissued a “sell” rating and set a price objective on shares of General Electric in a research report on Monday, January 15th. Goldman Sachs set a $19.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Deutsche Bank reissued a “sell” rating and set a $15.00 price objective on shares of General Electric in a research report on Wednesday, January 17th. Finally, Vertical Research set a $18.00 target price on General Electric and gave the company a “hold” rating in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and a consensus price target of $18.27.

In related news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.12% of the company’s stock.

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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.

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

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