People s United Financial Inc. cut its holdings in General Electric Company (NYSE:GE) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,059,122 shares of the conglomerate’s stock after selling 50,782 shares during the period. General Electric comprises approximately 1.0% of People s United Financial Inc.’s portfolio, making the stock its 22nd biggest holding. People s United Financial Inc. owned about 1.56% of General Electric worth $28,608,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new position in General Electric during the first quarter valued at $106,000. Ffcm LLC bought a new position in General Electric during the second quarter valued at $114,000. PHH Investments Ltd. grew its holdings in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 2,000 shares during the period. Tuttle Tactical Management LLC bought a new position in General Electric during the second quarter valued at $209,000. Finally, Oakmont Partners LLC grew its holdings in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after purchasing an additional 278 shares during the period. 55.74% of the stock is owned by institutional investors.
Shares of General Electric Company (NYSE GE) traded down $0.05 during mid-day trading on Monday, hitting $17.67. The company had a trading volume of 22,361,785 shares, compared to its average volume of 45,194,363. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric Company has a one year low of $17.46 and a one year high of $32.38. The stock has a market capitalization of $153,582.61, a P/E ratio of 14.28, a PEG ratio of 1.92 and a beta of 1.06.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. sell-side analysts predict that General Electric Company will post 1.07 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.72%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders purchased 120,500 shares of company stock worth $2,183,220 in the last quarter. 0.36% of the stock is currently owned by company insiders.
A number of equities analysts have recently commented on GE shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $18.00 price target on shares of General Electric in a report on Monday. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a report on Monday, September 25th. Goldman Sachs Group set a $19.00 price target on General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Cowen reaffirmed a “hold” rating and issued a $19.00 price target on shares of General Electric in a report on Wednesday, November 8th. Finally, Deutsche Bank set a $21.00 price target on General Electric and gave the stock a “sell” rating in a report on Monday, October 23rd. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $23.39.
COPYRIGHT VIOLATION WARNING: “General Electric Company (GE) Stake Lessened by People s United Financial Inc.” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright legislation. The legal version of this piece can be accessed at https://www.dispatchtribunal.com/2017/12/11/general-electric-company-ge-stake-lessened-by-people-s-united-financial-inc.html.
General Electric Company Profile
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.