Rowland & Co. Investment Counsel ADV trimmed its position in shares of General Electric (NYSE:GE) by 72.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,644 shares of the conglomerate’s stock after selling 139,221 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in General Electric were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Beach Investment Management LLC. bought a new stake in shares of General Electric in the 2nd quarter valued at approximately $5,487,000. Alps Advisors Inc. grew its stake in shares of General Electric by 7.7% in the 2nd quarter. Alps Advisors Inc. now owns 1,678,602 shares of the conglomerate’s stock valued at $45,339,000 after purchasing an additional 120,521 shares during the period. Shikiar Asset Management Inc. grew its stake in shares of General Electric by 1,450.2% in the 2nd quarter. Shikiar Asset Management Inc. now owns 125,475 shares of the conglomerate’s stock valued at $3,389,000 after purchasing an additional 117,381 shares during the period. Community Bank N.A. grew its stake in shares of General Electric by 11.8% in the 2nd quarter. Community Bank N.A. now owns 278,133 shares of the conglomerate’s stock valued at $7,510,000 after purchasing an additional 29,352 shares during the period. Finally, Murphy Pohlad Asset Management LLC grew its stake in shares of General Electric by 20.6% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 136,142 shares of the conglomerate’s stock valued at $3,677,000 after purchasing an additional 23,235 shares during the period. Hedge funds and other institutional investors own 56.28% of the company’s stock.
In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction 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 acquisition, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.12% of the stock is currently owned by corporate insiders.
Shares of GE stock opened at $13.07 on Friday. The company has a market capitalization of $115,912.40, a P/E ratio of -18.15, a P/E/G ratio of 2.53 and a beta of 1.00. General Electric has a 12-month low of $13.02 and a 12-month high of $30.54. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.
General Electric (NYSE:GE) last released 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). The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The firm’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. analysts anticipate that General Electric will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio is -66.67%.
Several equities research analysts have recently weighed in on the company. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a research note on Wednesday, January 10th. TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $11.00 price objective (down from $14.00) on shares of General Electric in a research note on Tuesday, March 13th. DZ Bank reiterated a “neutral” rating on shares of General Electric in a research note on Friday, January 26th. Finally, Deutsche Bank set a $15.00 price objective on General Electric and gave the company a “sell” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $18.27.
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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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