Macguire Cheswick & Tuttle Investment Counsel LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 28.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,830 shares of the conglomerate’s stock after selling 15,683 shares during the quarter. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in General Electric were worth $963,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in GE. Franklin Resources Inc. lifted its holdings 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 purchasing an additional 23,764,129 shares during the period. BlackRock Inc. lifted its holdings 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 purchasing an additional 19,422,516 shares during the period. Capital Research Global Investors lifted its holdings 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 purchasing an additional 14,316,281 shares during the period. Boston Partners lifted its holdings in shares of General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of General Electric by 1,011.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after purchasing an additional 13,315,605 shares during the period. Hedge funds and other institutional investors own 55.50% of the company’s stock.
General Electric (NYSE:GE) traded down $0.38 on Friday, reaching $15.64. The company had a trading volume of 82,290,000 shares, compared to its average volume of 97,550,000. General Electric has a 1 year low of $15.60 and a 1 year high of $30.59. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The firm has a market cap of $135,630.00, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. General Electric’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. research analysts anticipate that General Electric will post 1 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Tuesday, December 26th. General Electric’s dividend payout ratio is currently 44.44%.
GE has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup reduced their target price on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.42.
In other news, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The stock was bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The disclosure for this purchase can be found here. Insiders acquired a total of 124,370 shares of company stock worth $2,245,570 in the last ninety days. 0.36% of the stock is owned by corporate insiders.
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About General Electric
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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