Field & Main Bank lessened its position in shares of General Electric (NYSE:GE) by 86.9% during the 3rd quarter, Holdings Channel reports. The firm owned 3,465 shares of the conglomerate’s stock after selling 23,065 shares during the quarter. Field & Main Bank’s holdings in General Electric were worth $357,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of GE. West Branch Capital LLC purchased a new stake in General Electric during the 2nd quarter valued at about $33,000. Financial Insights Inc. purchased a new stake in General Electric during the 2nd quarter valued at about $38,000. Truvestments Capital LLC grew its stake in General Electric by 112.2% during the 2nd quarter. Truvestments Capital LLC now owns 2,837 shares of the conglomerate’s stock valued at $38,000 after purchasing an additional 1,500 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in General Electric during the 2nd quarter valued at about $42,000. Finally, Evolution Wealth Advisors LLC grew its stake in General Electric by 53.9% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 3,714 shares of the conglomerate’s stock valued at $50,000 after purchasing an additional 1,300 shares during the last quarter.
In related news, Director Leslie Seidman purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 22nd. The stock was purchased at an average price of $100.59 per share, with a total value of $100,590.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 2,051 shares of company stock valued at $210,673 in the last three months. Insiders own 0.71% of the company’s stock.
General Electric (NYSE:GE) last announced its earnings results on Monday, October 25th. The conglomerate reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.14. General Electric had a positive return on equity of 5.88% and a negative net margin of 0.05%. The business had revenue of $18.43 billion during the quarter, compared to analysts’ expectations of $19.17 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The business’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that General Electric will post 2.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 25th. Shareholders of record on Monday, September 27th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, September 24th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. General Electric’s payout ratio is currently -61.54%.
A number of brokerages have recently commented on GE. Cowen upped their target price on General Electric from $108.00 to $126.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 10th. Morgan Stanley began coverage on General Electric in a research note on Tuesday. They issued an “overweight” rating and a $125.00 target price on the stock. Citigroup restated a “buy” rating and issued a $136.00 target price on shares of General Electric in a research note on Wednesday, August 11th. TheStreet upgraded General Electric from a “d+” rating to a “c” rating in a research note on Wednesday, October 20th. Finally, Deutsche Bank Aktiengesellschaft upgraded General Electric from a “hold” rating to a “buy” rating and upped their target price for the stock from $119.00 to $131.00 in a research note on Tuesday, November 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $122.18.
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.
Featured Article: Basic Economics creates winners and losers
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.