Massey Quick Simon & CO. LLC grew its holdings in shares of General Electric (NYSE:GE) by 99.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,347 shares of the conglomerate’s stock after purchasing an additional 12,613 shares during the quarter. Massey Quick Simon & CO. LLC’s holdings in General Electric were worth $613,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. MPS Loria Financial Planners LLC purchased a new stake in shares of General Electric in the second quarter worth about $113,000. Ffcm LLC purchased a new stake in shares of General Electric in the second quarter worth about $114,000. Corbenic Partners LLC lifted its holdings in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of General Electric in the third quarter worth about $164,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in shares of General Electric in the third quarter worth about $204,000. Hedge funds and other institutional investors own 55.44% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Deutsche Bank set a $15.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Wednesday, January 31st. Stifel Nicolaus lowered their target price on shares of General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Credit Suisse Group reaffirmed a “hold” rating and issued a $16.00 target price on shares of General Electric in a research note on Tuesday, January 30th. Finally, DZ Bank reaffirmed a “neutral” rating on shares of General Electric in a research note on Friday, January 26th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $21.42.
In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders have acquired 124,370 shares of company stock worth $2,245,570 over the last three months. Insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) opened at $14.91 on Tuesday. The company has a market cap of $135,631.41, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. General Electric has a one year low of $14.91 and a one year high of $30.59. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. sell-side analysts predict that General Electric will post 1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
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About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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