Lee Financial Co decreased its holdings in shares of General Electric (NYSE:GE) by 72.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,834 shares of the conglomerate’s stock after selling 44,457 shares during the period. Lee Financial Co’s holdings in General Electric were worth $407,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Peak Financial Management Inc. boosted its holdings in General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after acquiring an additional 25 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its holdings in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after purchasing an additional 67 shares in the last quarter. NorthRock Partners LLC lifted its holdings in shares of General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after purchasing an additional 80 shares in the last quarter. Valmark Advisers Inc. lifted its holdings in shares of General Electric by 1.4% in the second quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock valued at $265,000 after purchasing an additional 138 shares in the last quarter. Finally, Shapiro Capital Management LLC lifted its holdings in shares of General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after purchasing an additional 147 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.
A number of research analysts have recently weighed in on GE shares. Royal Bank of Canada set a $25.00 target price on General Electric and gave the company a “buy” rating in a report on Monday, October 23rd. Citigroup set a $28.00 target price on General Electric and gave the company a “buy” rating in a report on Monday, October 23rd. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, October 23rd. Morningstar restated a “buy” rating on shares of General Electric in a report on Tuesday, November 14th. Finally, Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a report on Wednesday, January 10th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $21.09.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders acquired 64,370 shares of company stock valued at $1,149,370 over the last three months. Company insiders own 0.36% of the company’s stock.
Shares of General Electric (GE) traded up $0.23 on Wednesday, hitting $14.90. The company had a trading volume of 21,994,522 shares, compared to its average volume of 104,210,484. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $127,830.00, a P/E ratio of 13.80, a price-to-earnings-growth ratio of 2.81 and a beta of 0.93. General Electric has a one year low of $14.23 and a one year high of $30.59.
General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. During the same period in the previous year, the business posted $0.46 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. sell-side analysts anticipate that General Electric will post 0.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is currently 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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