General Electric (GE) Position Trimmed by Chemical Bank

Chemical Bank decreased its position in shares of General Electric (NYSE:GE) by 7.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,464 shares of the conglomerate’s stock after selling 9,578 shares during the quarter. Chemical Bank’s holdings in General Electric were worth $1,270,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Dupont Capital Management Corp acquired a new stake in General Electric during the 3rd quarter worth approximately $1,111,000. Regal Investment Advisors LLC raised its holdings in General Electric by 45.7% during the 3rd quarter. Regal Investment Advisors LLC now owns 97,484 shares of the conglomerate’s stock worth $1,101,000 after buying an additional 30,599 shares during the period. Emerald Investment Partners LLC raised its holdings in General Electric by 44.6% during the 3rd quarter. Emerald Investment Partners LLC now owns 32,732 shares of the conglomerate’s stock worth $373,000 after buying an additional 10,100 shares during the period. Jabodon PT Co. acquired a new stake in General Electric during the 3rd quarter worth approximately $3,416,000. Finally, RPG Investment Advisory LLC raised its holdings in General Electric by 44.3% during the 3rd quarter. RPG Investment Advisory LLC now owns 446,214 shares of the conglomerate’s stock worth $5,038,000 after buying an additional 136,968 shares during the period. 54.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of GE opened at $8.56 on Wednesday. The firm has a market cap of $71.46 billion, a P/E ratio of 8.15, a PEG ratio of 2.11 and a beta of 0.67. General Electric has a 1-year low of $6.66 and a 1-year high of $19.39. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66.

General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.06). The firm had revenue of $29.57 billion for the quarter, compared to analyst estimates of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. General Electric’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, analysts predict that General Electric will post 0.67 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Thursday, December 20th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, December 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.47%. General Electric’s payout ratio is 3.81%.

In related news, SVP Alexander Dimitrief acquired 10,000 shares of General Electric stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $9.48 per share, with a total value of $94,800.00. Following the completion of the transaction, the senior vice president now directly owns 103,075 shares in the company, valued at approximately $977,151. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Francisco Dsouza acquired 60,000 shares of General Electric stock in a transaction on Wednesday, November 14th. The shares were bought at an average cost of $8.32 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 295,000 shares of company stock worth $2,783,250. 1.12% of the stock is owned by corporate insiders.

Several brokerages have commented on GE. Vertical Research upgraded shares of General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. Gordon Haskett started coverage on shares of General Electric in a report on Friday, October 12th. They issued a “sell” rating on the stock. Royal Bank of Canada lowered their price objective on shares of General Electric to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 28th. Oppenheimer reiterated a “neutral” rating on shares of General Electric in a report on Tuesday, October 2nd. Finally, Citigroup set a $21.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Monday, October 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $13.81.

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General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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

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