Lincoln Capital Corp grew its stake in General Electric (NYSE:GE) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,001 shares of the conglomerate’s stock after buying an additional 8,478 shares during the period. General Electric accounts for 4.1% of Lincoln Capital Corp’s holdings, making the stock its 7th biggest position. Lincoln Capital Corp’s holdings in General Electric were worth $4,594,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. K.J. Harrison & Partners Inc raised its holdings in shares of General Electric by 16.3% during the first quarter. K.J. Harrison & Partners Inc now owns 92,995 shares of the conglomerate’s stock worth $2,771,000 after purchasing an additional 13,000 shares during the last quarter. BTC Capital Management Inc. raised its holdings in shares of General Electric by 1.1% during the first quarter. BTC Capital Management Inc. now owns 134,796 shares of the conglomerate’s stock worth $4,018,000 after purchasing an additional 1,411 shares during the last quarter. Selway Asset Management raised its holdings in shares of General Electric by 1.6% during the first quarter. Selway Asset Management now owns 61,038 shares of the conglomerate’s stock worth $1,819,000 after purchasing an additional 975 shares during the last quarter. Pegasus Partners Ltd. raised its holdings in shares of General Electric by 2.3% during the first quarter. Pegasus Partners Ltd. now owns 79,135 shares of the conglomerate’s stock worth $2,358,000 after purchasing an additional 1,795 shares during the last quarter. Finally, Access Financial Services Inc. raised its holdings in shares of General Electric by 81.5% during the first quarter. Access Financial Services Inc. now owns 53,846 shares of the conglomerate’s stock worth $1,605,000 after purchasing an additional 24,180 shares during the last quarter. 55.63% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric (GE) traded down $0.26 during midday trading on Friday, hitting $18.76. 87,076,709 shares of the stock traded hands, compared to its average volume of 67,030,000. General Electric has a 1-year low of $17.25 and a 1-year high of $31.47. The firm has a market capitalization of $162,690.00, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 55.81%.
Several research analysts recently issued reports on GE shares. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of General Electric in a report on Thursday, October 12th. JPMorgan Chase & Co. dropped their price target on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Vetr upgraded shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price target on the stock in a research report on Tuesday, October 10th. Citigroup set a $25.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company. General Electric currently has an average rating of “Hold” and an average target price of $23.19.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the purchase, the director now owns 5,500 shares in the company, valued at approximately $100,320. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 120,500 shares of company stock worth $2,183,220. Insiders own 0.36% of the company’s stock.
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General Electric Company Profile
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