Lakeview Capital Partners LLC lessened its position in shares of General Electric (NYSE:GE) by 25.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,179 shares of the conglomerate’s stock after selling 16,116 shares during the quarter. General Electric comprises approximately 0.9% of Lakeview Capital Partners LLC’s portfolio, making the stock its 28th largest position. Lakeview Capital Partners LLC owned about 0.07% of General Electric worth $1,117,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GE. Vanguard Group Inc. boosted its stake in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after acquiring an additional 3,297,890 shares in the last quarter. BlackRock Inc. boosted its stake in shares of General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares during the period. Capital World Investors boosted its stake in shares of General Electric by 8.6% during the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares during the period. Capital Research Global Investors boosted its stake in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares during the period. 55.64% of the stock is currently owned by institutional investors.
General Electric (NYSE GE) traded down $0.14 during midday trading on Thursday, hitting $17.21. 42,620,000 shares of the company were exchanged, compared to its average volume of 76,200,000. General Electric has a twelve month low of $17.20 and a twelve month high of $31.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The company has a market cap of $149,250.00, a P/E ratio of 20.01, a P/E/G ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. analysts forecast that General Electric will post 1.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 55.81%.
In other General Electric news, Director Francisco Dsouza acquired 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The stock was bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman John Leonard Flannery acquired 60,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by insiders.
Several equities research analysts have recently weighed in on GE shares. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 target price on shares of General Electric in a research note on Thursday, October 12th. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Citigroup set a $28.00 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. Royal Bank of Canada set a $25.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Monday, October 23rd. Finally, Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.94.
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General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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