Rothschild Investment Corp IL reduced its stake in shares of General Electric (NYSE:GE) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,618 shares of the conglomerate’s stock after selling 2,885 shares during the period. Rothschild Investment Corp IL’s holdings in General Electric were worth $1,114,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashburton Jersey Ltd bought a new position in General Electric during the second quarter valued at about $25,000. Employers Holdings Inc. bought a new stake in shares of General Electric during the second quarter valued at approximately $28,000. Fusion Family Wealth LLC raised its position in shares of General Electric by 10,516.0% during the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after buying an additional 2,629 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of General Electric during the second quarter valued at approximately $30,000. Finally, Princeton Global Asset Management LLC raised its position in shares of General Electric by 307,700.0% during the second quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock valued at $32,000 after buying an additional 3,077 shares during the last quarter. Institutional investors own 59.27% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $13.00 to $11.50 in a research report on Monday, July 15th. Citigroup set a $14.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Credit Suisse Group set a $11.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Friday, September 13th. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research lowered shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 target price for the company. in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.55.
NYSE:GE opened at $8.80 on Friday. General Electric has a 1-year low of $6.66 and a 1-year high of $12.83. The company has a 50-day moving average of $8.74 and a 200 day moving average of $9.59. The firm has a market cap of $76.80 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. During the same period in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts anticipate that General Electric will post 0.63 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other news, VP Thomas S. Timko bought 10,000 shares of General Electric stock in a transaction on Monday, August 19th. The stock was acquired at an average cost of $8.83 per share, for a total transaction of $88,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman H Lawrence Culp, Jr. bought 331,684 shares of General Electric stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 801,068 shares of company stock valued at $6,954,745. 1.13% of the stock is owned by insiders.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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