First Merchants Corp reduced its stake in shares of General Electric (NYSE:GE) by 46.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,281 shares of the conglomerate’s stock after selling 28,878 shares during the quarter. First Merchants Corp’s holdings in General Electric were worth $581,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of GE. Beach Investment Management LLC. purchased a new stake in shares of General Electric in the 2nd quarter worth about $5,487,000. Comprehensive Portfolio Management LLC purchased a new stake in shares of General Electric in the 2nd quarter worth about $932,000. Hourglass Capital LLC grew its position in shares of General Electric by 10.4% in the 2nd quarter. Hourglass Capital LLC now owns 266,112 shares of the conglomerate’s stock worth $7,188,000 after buying an additional 25,020 shares during the period. Private Vista LLC purchased a new stake in shares of General Electric in the 2nd quarter worth about $368,000. Finally, Sicart Associates LLC grew its position in shares of General Electric by 5.6% in the 2nd quarter. Sicart Associates LLC now owns 37,800 shares of the conglomerate’s stock worth $1,021,000 after buying an additional 2,000 shares during the period. 56.12% of the stock is currently owned by institutional investors and hedge funds.
GE opened at $14.05 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.72. The stock has a market cap of $126,071.01, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.72 and a beta of 1.02. General Electric has a 52-week low of $12.73 and a 52-week high of $29.55.
General Electric (NYSE:GE) last posted its earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The business had revenue of $28.66 billion for the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. analysts expect that General Electric will post 1 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.42%. The ex-dividend date was Friday, February 23rd. General Electric’s dividend payout ratio is currently 45.71%.
GE has been the topic of a number of recent research reports. Morningstar set a $23.50 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research note on Wednesday, January 10th. Citigroup dropped their price target on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Monday. Finally, TheStreet cut shares of General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Seven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus price target of $17.86.
In related news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.12% of the stock is currently owned by corporate insiders.
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General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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