Mogy Joel R Investment Counsel Inc. Sells 281,656 Shares of General Electric (GE)

Mogy Joel R Investment Counsel Inc. decreased its position in shares of General Electric (NYSE:GE) by 87.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 41,596 shares of the conglomerate’s stock after selling 281,656 shares during the quarter. Mogy Joel R Investment Counsel Inc.’s holdings in General Electric were worth $1,006,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MPS Loria Financial Planners LLC bought a new stake in General Electric during the second quarter valued at about $113,000. Ffcm LLC bought a new stake in General Electric during the second quarter valued at about $114,000. Corbenic Partners LLC boosted its position in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in General Electric during the third quarter valued at about $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new stake in General Electric during the third quarter valued at about $204,000. 55.17% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.36% of the company’s stock.

A number of equities research analysts recently weighed in on GE shares. JPMorgan Chase & Co. dropped their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Vertical Research set a $18.00 price objective on General Electric and gave the company a “hold” rating in a research report on Tuesday, January 16th. UBS Group started coverage on General Electric in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price objective on the stock. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Finally, Citigroup set a $25.00 price objective on General Electric and gave the company a “buy” rating in a research report on Tuesday, November 14th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average target price of $19.86.

Shares of General Electric (NYSE:GE) opened at $15.05 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09. General Electric has a 12 month low of $14.23 and a 12 month high of $30.59. The company has a market capitalization of $130,514.88, a PE ratio of 14.33, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities research analysts predict that General Electric will post 0.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.

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General Electric Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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

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