Visionary Asset Management Inc. trimmed its holdings in shares of General Electric (NYSE:GE) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,405 shares of the conglomerate’s stock after selling 6,468 shares during the quarter. Visionary Asset Management Inc.’s holdings in General Electric were worth $2,259,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Toronto Dominion Bank grew its holdings in General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in General Electric by 5.4% in the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after buying an additional 9,755 shares in the last quarter. Destination Wealth Management grew its holdings in General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares in the last quarter. Boston Partners grew its holdings in General Electric by 2.5% in the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after buying an additional 360,154 shares in the last quarter. Finally, Berkshire Asset Management LLC PA grew its holdings in General Electric by 4.0% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after buying an additional 36,870 shares in the last quarter. 56.42% of the stock is owned by institutional investors and hedge funds.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by corporate insiders.
General Electric (NYSE GE) opened at $14.31 on Friday. General Electric has a 12 month low of $13.95 and a 12 month high of $30.54. The company has a market capitalization of $124,681.79, a price-to-earnings ratio of -19.87, a PEG ratio of 2.72 and a beta of 1.00. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ 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 11.60%. The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same period last year, the company earned $0.46 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. sell-side analysts expect that General Electric will post 0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.35%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
Several brokerages have issued reports on GE. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a report on Wednesday, January 10th. TheStreet cut General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 target price (down from $14.00) on shares of General Electric in a report on Tuesday. DZ Bank restated a “neutral” rating on shares of General Electric in a report on Friday, January 26th. Finally, Deutsche Bank set a $15.00 target price on General Electric and gave the company a “sell” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.27.
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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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