LPL Financial LLC decreased its holdings in General Electric (NYSE:GE) by 12.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,947,585 shares of the conglomerate’s stock after selling 271,303 shares during the quarter. LPL Financial LLC’s holdings in General Electric were worth $14,743,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 2,500 shares during the last quarter. Mackey Komara & Dankovich LLC purchased a new position in General Electric in the 4th quarter valued at approximately $27,000. Edge Wealth Management LLC grew its stake in General Electric by 47.4% in the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after buying an additional 1,300 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in General Electric in the 4th quarter valued at approximately $41,000. Finally, NuWave Investment Management LLC grew its stake in General Electric by 170.3% in the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock valued at $46,000 after buying an additional 3,790 shares in the last quarter. 57.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:GE opened at $9.57 on Monday. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. General Electric has a one year low of $6.66 and a one year high of $15.59. The firm has a market capitalization of $83.09 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 3.88 and a beta of 0.99.
General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The firm had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. On average, equities analysts expect that General Electric will post 0.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, March 8th. General Electric’s payout ratio is 6.15%.
In other General Electric news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now directly owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.13% of the stock is owned by company insiders.
A number of research firms recently weighed in on GE. Deutsche Bank lifted their price objective on shares of General Electric from $8.00 to $11.00 and gave the company a “positive” rating in a research note on Monday, February 25th. They noted that the move was a valuation call. Cowen reiterated a “hold” rating and issued a $8.00 price objective on shares of General Electric in a research note on Tuesday, February 26th. Gabelli reiterated a “buy” rating on shares of General Electric in a research note on Tuesday, February 26th. Bank of America reiterated a “hold” rating and issued a $11.00 price objective on shares of General Electric in a research note on Thursday, January 31st. Finally, Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.39.
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About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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