Verity & Verity LLC Grows Position in General Electric (GE)

Verity & Verity LLC increased its stake in General Electric (NYSE:GE) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,786 shares of the conglomerate’s stock after buying an additional 11,585 shares during the period. Verity & Verity LLC’s holdings in General Electric were worth $5,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the second quarter valued at approximately $113,000. Ffcm LLC purchased a new stake in shares of General Electric during the second quarter valued at approximately $114,000. Corbenic Partners LLC grew its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of General Electric during the third quarter valued at approximately $164,000. Finally, Tuttle Tactical Management LLC purchased a new stake in shares of General Electric during the second quarter valued at approximately $209,000. 55.64% of the stock is owned by institutional investors and hedge funds.

In related news, Chairman John Leonard Flannery bought 60,000 shares of the company’s 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 acquisition, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, 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 90 days. 0.36% of the stock is currently owned by corporate insiders.

Shares of General Electric (NYSE:GE) opened at $16.26 on Friday. General Electric has a fifty-two week low of $16.02 and a fifty-two week high of $30.90. 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 stock has a market cap of $141,010.00, a P/E ratio of 18.91, a P/E/G ratio of 3.08 and a beta of 1.07.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. analysts expect that General Electric will post 1.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 55.81%.

A number of research firms have recently commented on GE. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a report on Wednesday, January 10th. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target on the stock. in a report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and cut their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 24th. Goldman Sachs Group set a $23.00 price target on shares of General Electric and gave the company a “hold” rating in a report on Tuesday, October 17th. Finally, UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and cut their price target for the company from $31.00 to $24.00 in a report on Monday, October 23rd. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $22.94.

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

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