Clean Yield Group cut its holdings in General Electric (NYSE:GE) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,901 shares of the conglomerate’s stock after selling 12,451 shares during the period. Clean Yield Group’s holdings in General Electric were worth $345,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Venturi Wealth Management LLC purchased a new position in General Electric in the 3rd quarter valued at about $25,000. Manchester Financial Inc. purchased a new position in General Electric in the 4th quarter valued at about $29,000. Princeton Global Asset Management LLC lifted its holdings in General Electric by 307,700.0% in the 2nd quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 3,077 shares in the last quarter. Simon Quick Advisors LLC lifted its holdings in General Electric by 441.7% in the 4th quarter. Simon Quick Advisors LLC now owns 3,039 shares of the conglomerate’s stock valued at $34,000 after purchasing an additional 2,478 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in General Electric in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 60.21% of the company’s stock.
Several brokerages have recently weighed in on GE. Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $13.00 price objective on the stock. in a report on Tuesday, January 7th. Deutsche Bank increased their price objective on shares of General Electric from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Royal Bank of Canada reiterated a “buy” rating and set a $13.00 price objective on shares of General Electric in a report on Wednesday, October 30th. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, William Blair reiterated a “buy” rating on shares of General Electric in a report on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average price target of $10.92.
Shares of GE stock opened at $11.81 on Friday. The firm has a market cap of $103.14 billion, a P/E ratio of 18.17, a PEG ratio of 2.56 and a beta of 1.16. General Electric has a 1-year low of $7.65 and a 1-year high of $12.23. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The firm’s 50-day simple moving average is $11.38 and its 200-day simple moving average is $10.08.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, December 23rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Friday, December 20th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
About General Electric
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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