Ronna Sue Cohen lowered its position in shares of General Electric (NYSE:GE) by 16.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,658 shares of the conglomerate’s stock after selling 23,973 shares during the quarter. Ronna Sue Cohen’s holdings in General Electric were worth $1,396,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Portfolio Solutions LLC bought a new stake in General Electric during the 3rd quarter worth about $133,000. First Hawaiian Bank grew its holdings in General Electric by 76.1% during the 3rd quarter. First Hawaiian Bank now owns 69,143 shares of the conglomerate’s stock worth $781,000 after acquiring an additional 29,874 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in General Electric by 2.6% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 1,541,918 shares of the conglomerate’s stock worth $17,408,000 after acquiring an additional 39,754 shares during the last quarter. Greenline Partners LLC grew its holdings in General Electric by 20.7% during the 3rd quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock worth $1,503,000 after acquiring an additional 22,584 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in General Electric by 6.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 7,700,000 shares of the conglomerate’s stock worth $86,933,000 after acquiring an additional 475,000 shares during the last quarter. Institutional investors and hedge funds own 54.48% of the company’s stock.
A number of equities research analysts have commented on GE shares. Gabelli reissued a “buy” rating and set a $21.00 price objective on shares of General Electric in a report on Monday, September 24th. Citigroup decreased their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Morningstar set a $15.70 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Monday, August 13th. Barclays raised shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a report on Monday, October 8th. Finally, Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and a consensus price target of $13.86.
Shares of NYSE GE opened at $7.01 on Friday. The stock has a market capitalization of $63.82 billion, a PE ratio of 6.68, a price-to-earnings-growth ratio of 2.09 and a beta of 0.88. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66. General Electric has a 1 year low of $6.99 and a 1 year high of $19.39.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. Analysts expect that General Electric will post 0.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Thursday, December 20th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.57%. General Electric’s dividend payout ratio (DPR) is presently 45.71%.
In other news, SVP Alexander Dimitrief purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the senior vice president now directly owns 103,075 shares of the company’s stock, valued at approximately $977,151. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Dsouza purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was purchased at an average price of $8.32 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now directly owns 151,500 shares in the company, valued at $1,260,480. The disclosure for this purchase can be found here. Insiders bought a total of 295,000 shares of company stock worth $2,783,250 in the last ninety days. Insiders own 1.12% of the company’s stock.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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