Atlas Brown Inc. Cuts Holdings in General Electric (NYSE:GE)

Atlas Brown Inc. decreased its position in General Electric (NYSE:GE) by 88.1% in the third quarter, Holdings Channel reports. The institutional investor owned 7,865 shares of the conglomerate’s stock after selling 58,246 shares during the period. Atlas Brown Inc.’s holdings in General Electric were worth $810,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GE. Bradley Foster & Sargent Inc. CT increased its stake in shares of General Electric by 3.1% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 140,532 shares of the conglomerate’s stock worth $1,892,000 after purchasing an additional 4,169 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in General Electric during the second quarter worth about $279,000. Mariner LLC boosted its position in General Electric by 6.1% during the second quarter. Mariner LLC now owns 557,151 shares of the conglomerate’s stock worth $7,499,000 after acquiring an additional 32,051 shares during the last quarter. M&G Investment Management Ltd. boosted its position in General Electric by 8.9% during the second quarter. M&G Investment Management Ltd. now owns 824,414 shares of the conglomerate’s stock worth $10,717,000 after acquiring an additional 67,160 shares during the last quarter. Finally, Meridian Management Co. boosted its position in General Electric by 0.8% during the second quarter. Meridian Management Co. now owns 38,900 shares of the conglomerate’s stock worth $524,000 after acquiring an additional 300 shares during the last quarter.

Shares of GE stock traded up $0.15 during trading hours on Thursday, hitting $102.23. The company had a trading volume of 5,569,121 shares, compared to its average volume of 8,669,891. General Electric has a fifty-two week low of $79.68 and a fifty-two week high of $116.17. The company’s fifty day moving average is $104.27 and its 200 day moving average is $104.77. The stock has a market capitalization of $112.26 billion, a PE ratio of -196.60, a price-to-earnings-growth ratio of 9.35 and a beta of 1.03. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.80 and a quick ratio of 1.50.

General Electric (NYSE:GE) last announced its earnings results on Monday, October 25th. The conglomerate reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.14. General Electric had a negative net margin of 0.05% and a positive return on equity of 5.88%. The firm had revenue of $18.43 billion for the quarter, compared to the consensus estimate of $19.17 billion. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities analysts forecast that General Electric will post 2.01 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 25th. Investors of record on Monday, September 27th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Friday, September 24th. General Electric’s payout ratio is currently -61.54%.

A number of research firms recently weighed in on GE. TheStreet upgraded shares of General Electric from a “d+” rating to a “c” rating in a research report on Wednesday, October 20th. Cowen boosted their price target on shares of General Electric from $108.00 to $126.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 10th. Credit Suisse Group boosted their price target on shares of General Electric from $112.00 to $114.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 27th. Jefferies Financial Group initiated coverage on shares of General Electric in a report on Tuesday. They issued a “hold” rating and a $100.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Electric from a “hold” rating to a “buy” rating and boosted their target price for the company from $119.00 to $131.00 in a report on Tuesday, November 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $122.18.

In other news, Director Paula Rosput Reynolds acquired 1,000 shares of the company’s stock in a transaction on Friday, November 12th. The shares were bought at an average cost of $107.06 per share, with a total value of $107,060.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have purchased 2,051 shares of company stock worth $210,673. 0.71% of the stock is owned by insiders.

General Electric Company Profile

General Electric Co engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services.

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

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