Apriem Advisors decreased its position in General Electric (NYSE:GE) by 95.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,463 shares of the conglomerate’s stock after selling 227,956 shares during the quarter. Apriem Advisors’ holdings in General Electric were worth $277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in GE. Beach Investment Management LLC. purchased a new position in shares of General Electric in the 2nd quarter worth approximately $5,487,000. MV Capital Management Inc. boosted its holdings in shares of General Electric by 1.7% in the 2nd quarter. MV Capital Management Inc. now owns 20,821 shares of the conglomerate’s stock worth $562,000 after purchasing an additional 344 shares during the period. Barrett Asset Management LLC boosted its holdings in shares of General Electric by 1.2% in the 2nd quarter. Barrett Asset Management LLC now owns 761,740 shares of the conglomerate’s stock worth $20,575,000 after purchasing an additional 9,004 shares during the period. HL Financial Services LLC boosted its holdings in shares of General Electric by 0.8% in the 2nd quarter. HL Financial Services LLC now owns 3,245,120 shares of the conglomerate’s stock worth $87,651,000 after purchasing an additional 26,293 shares during the period. Finally, SignalPoint Asset Management LLC boosted its holdings in shares of General Electric by 0.9% in the 2nd quarter. SignalPoint Asset Management LLC now owns 59,949 shares of the conglomerate’s stock worth $1,619,000 after purchasing an additional 526 shares during the period. 56.30% of the stock is currently owned by institutional investors and hedge funds.
GE has been the subject of a number of recent research reports. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a report on Wednesday, January 10th. Citigroup dropped 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. TheStreet cut General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Finally, Barclays began coverage on General Electric in a report on Thursday, February 15th. They set an “equal weight” rating and a $16.00 price objective for the company. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $18.27.
Shares of GE stock traded down $0.20 during mid-day trading on Friday, hitting $13.48. The stock had a trading volume of 74,514,308 shares, compared to its average volume of 84,586,248. General Electric has a 12-month low of $12.73 and a 12-month high of $30.54. The stock has a market capitalization of $117,041.13, a price-to-earnings ratio of 12.84, a P/E/G ratio of 2.56 and a beta of 1.00. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter in the prior year, the company posted $0.46 earnings per share. General Electric’s quarterly revenue was down 5.1% compared to the same quarter last year. research analysts predict that General Electric will post 0.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is 45.71%.
In related news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.12% of the company’s stock.
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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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