ST Germain D J Co. Inc. lowered its stake in shares of General Electric (NYSE:GE) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,843 shares of the conglomerate’s stock after selling 2,477 shares during the period. ST Germain D J Co. Inc.’s holdings in General Electric were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in GE. CHICAGO TRUST Co NA lifted its holdings in shares of General Electric by 0.4% in the second quarter. CHICAGO TRUST Co NA now owns 249,228 shares of the conglomerate’s stock valued at $2,617,000 after purchasing an additional 992 shares in the last quarter. Evanson Asset Management LLC increased its position in General Electric by 5.6% during the second quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock worth $205,000 after purchasing an additional 1,029 shares during the last quarter. Schnieders Capital Management LLC increased its position in General Electric by 6.0% during the second quarter. Schnieders Capital Management LLC now owns 18,573 shares of the conglomerate’s stock worth $195,000 after purchasing an additional 1,050 shares during the last quarter. Monarch Capital Management Inc. increased its position in General Electric by 0.7% during the second quarter. Monarch Capital Management Inc. now owns 165,752 shares of the conglomerate’s stock worth $1,740,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Lee Danner & Bass Inc. increased its position in General Electric by 1.1% during the second quarter. Lee Danner & Bass Inc. now owns 105,328 shares of the conglomerate’s stock worth $1,106,000 after purchasing an additional 1,105 shares during the last quarter. 59.28% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Credit Suisse Group set a $11.00 price target on shares of General Electric and gave the stock a “hold” rating in a research report on Friday, September 13th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Morgan Stanley assumed coverage on shares of General Electric in a research report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price target for the company. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. General Electric has a consensus rating of “Hold” and an average price target of $10.55.
In other news, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $7.93 per share, with a total value of $1,999,946.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Insiders bought 801,068 shares of company stock valued at $6,954,745 in the last three months. Company insiders own 1.13% of the company’s stock.
Shares of General Electric stock traded up $0.16 during trading hours on Thursday, hitting $9.07. The company’s stock had a trading volume of 16,484,746 shares, compared to its average volume of 43,522,396. General Electric has a 1-year low of $6.66 and a 1-year high of $12.81. The business has a fifty day moving average of $8.82 and a 200 day moving average of $9.56. The company has a market capitalization of $79.33 billion, a PE ratio of 13.95, a P/E/G ratio of 1.98 and a beta of 1.11. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. During the same quarter in the prior year, the business earned $0.19 earnings per share. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 16th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, September 13th. General Electric’s payout ratio is currently 6.15%.
General Electric Company Profile
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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