WealthPLAN Partners LLC cut its stake in shares of General Electric (NYSE:GE) by 18.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,690 shares of the conglomerate’s stock after selling 7,189 shares during the period. WealthPLAN Partners LLC’s holdings in General Electric were worth $242,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in GE. FMR LLC raised its holdings in General Electric by 158.6% during the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock worth $2,799,528,000 after acquiring an additional 126,169,069 shares in the last quarter. Canyon Capital Advisors LLC bought a new position in shares of General Electric in the 3rd quarter worth about $200,510,000. Pzena Investment Management LLC raised its position in shares of General Electric by 95.6% in the 3rd quarter. Pzena Investment Management LLC now owns 33,345,586 shares of the conglomerate’s stock worth $376,472,000 after acquiring an additional 16,297,449 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of General Electric by 13.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 102,536,305 shares of the conglomerate’s stock worth $1,157,635,000 after acquiring an additional 12,033,153 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of General Electric by 26.1% in the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock worth $741,852,000 after acquiring an additional 11,294,608 shares in the last quarter. 54.46% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:GE traded up $0.23 during mid-day trading on Monday, reaching $10.04. The company had a trading volume of 17,488,711 shares, compared to its average volume of 109,736,400. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $85.18 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.06 and a beta of 0.99. General Electric has a one year low of $6.66 and a one year high of $15.59.
General Electric (NYSE:GE) last issued its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.84%. The business had revenue of $33.28 billion for the quarter, compared to the consensus estimate of $32.01 billion. Research analysts predict that General Electric will post 0.64 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Thursday, December 20th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, December 19th. This represents a $0.04 annualized dividend and a yield of 0.40%. General Electric’s payout ratio is 6.15%.
In other General Electric news, Director Francisco Dsouza purchased 60,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was acquired at an average cost of $8.32 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now directly owns 151,500 shares in the company, valued at approximately $1,260,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.12% of the company’s stock.
A number of equities analysts have issued reports on GE shares. Zacks Investment Research upgraded General Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, February 4th. William Blair restated a “buy” rating on shares of General Electric in a research note on Saturday, February 2nd. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. Royal Bank of Canada boosted their target price on General Electric from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, February 1st. Finally, Bank of America restated a “hold” rating and issued a $11.00 target price on shares of General Electric in a research note on Thursday, January 31st. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.04.
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About General Electric
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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