Gamco Investors INC. ET AL Trims Position in General Electric (NYSE:GE)

Gamco Investors INC. ET AL cut its holdings in shares of General Electric (NYSE:GE) by 12.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,896 shares of the conglomerate’s stock after selling 48,485 shares during the quarter. Gamco Investors INC. ET AL’s holdings in General Electric were worth $2,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Woodard & Co. Asset Management Group Inc. ADV increased its stake in General Electric by 0.8% in the 3rd quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 176,635 shares of the conglomerate’s stock worth $1,100,000 after purchasing an additional 1,414 shares in the last quarter. Usca Ria LLC increased its stake in General Electric by 1.5% in the 3rd quarter. Usca Ria LLC now owns 103,208 shares of the conglomerate’s stock worth $643,000 after purchasing an additional 1,496 shares in the last quarter. Steel Peak Wealth Management LLC increased its stake in General Electric by 8.8% in the 3rd quarter. Steel Peak Wealth Management LLC now owns 18,621 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 1,510 shares in the last quarter. Flippin Bruce & Porter Inc. increased its stake in General Electric by 1.4% in the 3rd quarter. Flippin Bruce & Porter Inc. now owns 113,509 shares of the conglomerate’s stock worth $707,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in General Electric by 11.5% in the 3rd quarter. Tradewinds Capital Management LLC now owns 14,775 shares of the conglomerate’s stock worth $92,000 after purchasing an additional 1,522 shares in the last quarter. 59.95% of the stock is owned by institutional investors.

GE has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on General Electric from $10.00 to $11.00 in a research note on Thursday, October 29th. Cowen reiterated a “hold” rating and issued a $7.00 target price on shares of General Electric in a report on Monday, October 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of General Electric from $6.81 to $9.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Morgan Stanley boosted their price objective on shares of General Electric from $8.00 to $8.50 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, ValuEngine upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research report on Monday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $8.89.

General Electric stock opened at $9.57 on Tuesday. The company has a market capitalization of $83.83 billion, a P/E ratio of 26.58 and a beta of 0.76. The firm’s fifty day simple moving average is $7.36 and its 200-day simple moving average is $6.81. The company has a current ratio of 2.31, a quick ratio of 2.04 and a debt-to-equity ratio of 2.10. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26.

General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, October 28th. The conglomerate reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.10. General Electric had a net margin of 4.52% and a return on equity of 5.37%. During the same quarter in the prior year, the company posted $0.15 EPS. On average, equities research analysts predict that General Electric will post -0.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Monday, September 28th were issued a dividend of $0.01 per share. The ex-dividend date was Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.42%. General Electric’s dividend payout ratio is currently 6.15%.

About General Electric

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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

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