Capital Advantage Inc. lowered its stake in shares of General Electric (NYSE:GE) by 24.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,200 shares of the conglomerate’s stock after selling 14,125 shares during the period. General Electric accounts for 0.3% of Capital Advantage Inc.’s investment portfolio, making the stock its 29th largest position. Capital Advantage Inc.’s holdings in General Electric were worth $1,069,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Toronto Dominion Bank raised its position in General Electric by 21.3% in the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares during the period. Warren Averett Asset Management LLC raised its holdings in shares of General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the period. Destination Wealth Management raised its holdings in shares of General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares during the period. Rockland Trust Co. raised its holdings in shares of General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after buying an additional 16,309 shares during the period. Finally, Stoneridge Investment Partners LLC raised its holdings in shares of General Electric by 23.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 325,787 shares of the conglomerate’s stock valued at $8,800,000 after buying an additional 61,746 shares during the period. 55.63% of the stock is currently owned by institutional investors.
Several equities research analysts recently issued reports on GE shares. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price objective on shares of General Electric in a report on Thursday, October 12th. JPMorgan Chase & Co. cut their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, November 1st. Vetr upgraded General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price objective on the stock in a report on Tuesday, October 10th. Citigroup set a $25.00 price objective on General Electric and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $23.19.
In other General Electric news, Chairman John Leonard Flannery acquired 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was acquired at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now owns 575,477 shares in the company, valued at approximately $10,513,964.79. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock valued at $2,183,220 over the last three months. 0.36% of the stock is currently owned by insiders.
General Electric (NYSE:GE) opened at $18.76 on Friday. General Electric has a one year low of $17.25 and a one year high of $31.45. The company has a market capitalization of $162,690.00, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.14 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. analysts anticipate that General Electric will post 1.07 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.56%. General Electric’s payout ratio is 55.81%.
About General Electric
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