Gateway Investment Advisers LLC lessened its holdings in General Electric (NYSE:GE) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,212,064 shares of the conglomerate’s stock after selling 327,922 shares during the quarter. Gateway Investment Advisers LLC’s holdings in General Electric were worth $47,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in GE. Fusion Family Wealth LLC grew its stake in shares of General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after acquiring an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC bought a new position in shares of General Electric during the 1st quarter worth $116,000. Beech Hill Advisors Inc. bought a new position in shares of General Electric during the 3rd quarter worth $119,000. Archford Capital Strategies LLC bought a new position in shares of General Electric during the 1st quarter worth $121,000. Finally, Amussen Hunsaker Associates LLC bought a new position in shares of General Electric during the 2nd quarter worth $134,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.
In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the stock in a transaction on Thursday, November 1st. The shares were purchased at an average price of $9.73 per share, with a total value of $2,189,250.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Alexander Dimitrief purchased 10,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the acquisition, the senior vice president now owns 103,075 shares in the company, valued at $977,151. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 295,000 shares of company stock worth $2,783,250. Insiders own 1.12% of the company’s stock.
GE has been the subject of several research reports. Bank of America reiterated a “hold” rating and set a $14.00 price target on shares of General Electric in a research note on Thursday, October 4th. Credit Suisse Group reiterated a “neutral” rating and set a $12.00 price target on shares of General Electric in a research note on Wednesday, October 31st. ValuEngine upgraded General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Deutsche Bank cut their price target on General Electric from $11.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, November 30th. Finally, JPMorgan Chase & Co. set a $10.00 price target on General Electric and gave the stock a “sell” rating in a research note on Wednesday, October 31st. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $13.86.
Shares of NYSE GE opened at $7.01 on Friday. General Electric has a 52 week low of $6.99 and a 52 week high of $19.39. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $63.21 billion, a price-to-earnings ratio of 6.68, a P/E/G ratio of 2.07 and a beta of 0.88.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 0.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Thursday, December 20th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.57%. General Electric’s payout ratio is currently 45.71%.
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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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