Hallmark Capital Management Inc. Takes $99,000 Position in General Electric (NYSE:GE)

Hallmark Capital Management Inc. bought a new stake in General Electric (NYSE:GE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,055 shares of the conglomerate’s stock, valued at approximately $99,000.

Several other large investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of General Electric by 26.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after purchasing an additional 76,193,032 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of General Electric during the 2nd quarter valued at approximately $433,181,000. Renaissance Technologies LLC grew its holdings in shares of General Electric by 254.9% during the 2nd quarter. Renaissance Technologies LLC now owns 53,270,354 shares of the conglomerate’s stock valued at $559,339,000 after purchasing an additional 38,260,700 shares during the last quarter. BlackRock Inc. grew its holdings in shares of General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after purchasing an additional 9,483,976 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after purchasing an additional 8,989,832 shares during the last quarter. Institutional investors own 58.97% of the company’s stock.

GE opened at $11.16 on Thursday. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $11.75. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The firm has a market capitalization of $96.24 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 2.46 and a beta of 1.13. The company’s 50 day moving average price is $9.17 and its two-hundred day moving average price is $9.56.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion for the quarter, compared to the consensus estimate of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, equities research analysts predict that General Electric will post 0.61 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. General Electric’s dividend payout ratio (DPR) is currently 6.15%.

In other news, Director Thomas W. Horton purchased 55,248 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now owns 55,248 shares of the company’s stock, valued at $498,336.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The disclosure for this purchase can be found here. Insiders bought a total of 801,068 shares of company stock worth $6,954,745 in the last 90 days. Corporate insiders own 1.13% of the company’s stock.

Several equities research analysts recently issued reports on GE shares. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, September 4th. Morgan Stanley started coverage on shares of General Electric in a report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price target on the stock. Deutsche Bank lifted their price target on shares of General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 price target on shares of General Electric in a report on Wednesday, October 30th. Finally, Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. General Electric presently has an average rating of “Hold” and a consensus price target of $10.41.

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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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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