Van Hulzen Asset Management LLC lessened its stake in General Electric (NYSE:GE) by 73.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 66,354 shares of the conglomerate’s stock after selling 180,803 shares during the quarter. Van Hulzen Asset Management LLC’s holdings in General Electric were worth $1,604,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in GE. MPS Loria Financial Planners LLC bought a new stake in General Electric in the second quarter worth approximately $113,000. Ffcm LLC bought a new stake in General Electric in the second quarter worth approximately $114,000. Corbenic Partners LLC grew its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in General Electric in the third quarter worth approximately $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new stake in General Electric in the third quarter worth approximately $204,000. Hedge funds and other institutional investors own 55.17% of the company’s stock.
In other news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.36% of the company’s stock.
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 analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. sell-side analysts forecast that General Electric will post 0.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is currently 44.44%.
Several analysts have commented on the stock. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a research report on Wednesday, January 10th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. DZ Bank reaffirmed a “neutral” rating on shares of General Electric in a report on Friday, January 26th. Deutsche Bank set a $15.00 price objective on shares of General Electric and gave the stock a “sell” rating in a report on Wednesday, January 31st. Finally, Goldman Sachs Group set a $19.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $19.86.
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General Electric Company 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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