Arrow Financial Corp Decreases Stake in General Electric (GE)

Arrow Financial Corp cut its holdings in shares of General Electric (NYSE:GE) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 199,631 shares of the conglomerate’s stock after selling 12,241 shares during the period. General Electric makes up approximately 1.1% of Arrow Financial Corp’s investment portfolio, making the stock its 21st largest holding. Arrow Financial Corp’s holdings in General Electric were worth $4,828,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in shares of General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares in the last quarter. Boston Partners lifted its holdings in shares of General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of General Electric by 1,011.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares in the last quarter. Hedge funds and other institutional investors own 55.63% of the company’s stock.

In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 120,500 shares of company stock worth $2,183,220. Company insiders own 0.36% of the company’s stock.

Shares of General Electric (NYSE:GE) traded down $0.26 during midday trading on Friday, reaching $18.76. The company’s stock had a trading volume of 87,032,593 shares, compared to its average volume of 67,030,000. The firm has a market capitalization of $162,690.00, a P/E ratio of 21.81, a PEG ratio of 2.14 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric has a 1 year low of $17.25 and a 1 year high of $31.47.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $0.32 EPS. equities analysts forecast that General Electric will post 1.07 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 55.81%.

A number of analysts have recently commented on GE shares. Royal Bank of Canada restated a “buy” rating and issued a $31.00 price target on shares of General Electric in a report on Friday, September 15th. Argus cut their price target on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Vetr lowered General Electric from a “buy” rating to a “sell” rating and set a $23.72 target price on the stock. in a report on Tuesday, September 19th. JPMorgan Chase & Co. set a $22.00 target price on General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Finally, Morgan Stanley dropped their target price on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Six analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $23.19.

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

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