General Electric Company (GE) Stake Lessened by People s United Financial Inc.

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.

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