Bingham Osborn & Scarborough LLC trimmed its holdings in General Electric (NYSE:GE) by 10.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,989 shares of the conglomerate’s stock after selling 2,602 shares during the period. Bingham Osborn & Scarborough LLC’s holdings in General Electric were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cacti Asset Management LLC lifted its holdings in General Electric by 1.6% in the 2nd quarter. Cacti Asset Management LLC now owns 149,000 shares of the conglomerate’s stock worth $1,550,000 after purchasing an additional 2,300 shares in the last quarter. Park National Corp OH grew its holdings in General Electric by 19.4% during the 2nd quarter. Park National Corp OH now owns 1,903,454 shares of the conglomerate’s stock valued at $19,986,000 after buying an additional 309,755 shares in the last quarter. Anderson Hoagland & Co. raised its position in shares of General Electric by 32.9% during the second quarter. Anderson Hoagland & Co. now owns 136,215 shares of the conglomerate’s stock valued at $1,286,000 after buying an additional 33,725 shares during the last quarter. BigSur Wealth Management LLC raised its position in shares of General Electric by 56.9% during the second quarter. BigSur Wealth Management LLC now owns 49,650 shares of the conglomerate’s stock valued at $528,000 after buying an additional 18,000 shares during the last quarter. Finally, DNB Asset Management AS raised its position in shares of General Electric by 3.8% during the second quarter. DNB Asset Management AS now owns 1,758,086 shares of the conglomerate’s stock valued at $18,460,000 after buying an additional 64,661 shares during the last quarter. 58.97% of the stock is currently owned by hedge funds and other institutional investors.
In other General Electric news, Chairman H Lawrence Culp, Jr. bought 331,684 shares of General Electric stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, for a total transaction of $2,998,423.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leslie Seidman bought 6,500 shares of General Electric stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $7.80 per share, for a total transaction of $50,700.00. Following the completion of the acquisition, the director now owns 6,500 shares in the company, valued at $50,700. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 801,068 shares of company stock worth $6,954,745. Insiders own 1.13% of the company’s stock.
Shares of NYSE GE opened at $11.52 on Friday. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.60 and a current ratio of 1.84. The company has a market cap of $100.61 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.46 and a beta of 1.13. The firm’s fifty day moving average is $9.25 and its two-hundred day moving average is $9.58. General Electric has a 52-week low of $6.66 and a 52-week high of $11.75.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The firm had revenue of $23.36 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm posted $0.14 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, analysts forecast that General Electric will post 0.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
GE has been the subject of a number of research reports. Royal Bank of Canada restated a “buy” rating and set a $13.00 target price on shares of General Electric in a research report on Wednesday, October 30th. Deutsche Bank lifted their price target on shares of General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. Credit Suisse Group reiterated a “hold” rating and issued a $10.00 price target on shares of General Electric in a report on Monday, November 4th. Barclays reiterated a “buy” rating and issued a $12.00 price target on shares of General Electric in a report on Friday, October 4th. Finally, Morgan Stanley assumed coverage on shares of General Electric in a report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.41.
General Electric Company 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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