Rockland Trust Co. lifted its position in shares of General Electric (NYSE:GE) by 11.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 230,093 shares of the conglomerate’s stock after purchasing an additional 24,549 shares during the quarter. Rockland Trust Co.’s holdings in General Electric were worth $5,564,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of GE. Peak Financial Management Inc. grew its stake in General Electric by 0.3% in the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after purchasing an additional 25 shares during the period. Cutter & CO Brokerage Inc. grew its stake in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after acquiring an additional 67 shares during the period. NorthRock Partners LLC grew its stake in shares of General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after acquiring an additional 80 shares during the period. Valmark Advisers Inc. grew its stake in shares of General Electric by 1.4% during the 2nd quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after acquiring an additional 138 shares during the period. Finally, Shapiro Capital Management LLC grew its stake in shares of General Electric by 0.8% during the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after acquiring an additional 147 shares during the period. 54.98% of the stock is currently owned by institutional investors.
GE has been the subject of several research reports. JPMorgan Chase & Co. cut their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Morningstar set a $23.50 price objective on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup dropped their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price objective on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $21.09.
In other General Electric news, Director Steven M. Mollenkopf acquired 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 64,370 shares of company stock worth $1,149,370. 0.36% of the stock is owned by corporate insiders.
General Electric (NYSE:GE) traded up $0.23 on Wednesday, reaching $14.90. The company had a trading volume of 85,878,528 shares, compared to its average volume of 107,570,000. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. General Electric has a fifty-two week low of $14.23 and a fifty-two week high of $30.59. The company has a market cap of $129,210.00, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 2.81 and a beta of 0.93.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. General Electric’s revenue was down 5.1% compared to the same quarter last year. equities research analysts anticipate that General Electric will post 0.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.22%. General Electric’s payout ratio is 44.44%.
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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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