General Electric (GE) Position Lessened by Ronna Sue Cohen

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.

TRADEMARK VIOLATION WARNING: This piece of content was first posted by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece of content on another website, it was illegally stolen and reposted in violation of United States & international copyright law. The correct version of this piece of content can be read at https://www.thelincolnianonline.com/2018/12/08/general-electric-ge-position-lessened-by-ronna-sue-cohen.html.

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.

Featured Story: Are all No-Load Funds Equal?

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply