Bank of Stockton trimmed its holdings in shares of General Electric (NYSE:GE) by 19.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,602 shares of the conglomerate’s stock after selling 10,554 shares during the quarter. Bank of Stockton’s holdings in General Electric were worth $1,054,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fenimore Asset Management Inc. grew its holdings in General Electric by 27.9% during the 2nd quarter. Fenimore Asset Management Inc. now owns 22,080 shares of the conglomerate’s stock valued at $596,000 after purchasing an additional 4,823 shares during the last quarter. Family Capital Trust Co grew its stake in General Electric by 1.2% in the 2nd quarter. Family Capital Trust Co now owns 166,975 shares of the conglomerate’s stock worth $4,508,000 after acquiring an additional 1,900 shares in the last quarter. Iowa State Bank grew its stake in General Electric by 1.8% in the 2nd quarter. Iowa State Bank now owns 186,694 shares of the conglomerate’s stock worth $5,043,000 after acquiring an additional 3,262 shares in the last quarter. Edmp Inc. grew its stake in General Electric by 1.2% in the 2nd quarter. Edmp Inc. now owns 20,555 shares of the conglomerate’s stock worth $555,000 after acquiring an additional 245 shares in the last quarter. Finally, St. Johns Investment Management Company LLC grew its stake in General Electric by 1.8% in the 2nd quarter. St. Johns Investment Management Company LLC now owns 46,061 shares of the conglomerate’s stock worth $1,244,000 after acquiring an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 55.44% of the company’s stock.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have purchased 124,370 shares of company stock valued at $2,245,570 in the last three months. 0.36% of the stock is currently owned by corporate insiders.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the prior year, the business posted $0.46 earnings per share. General Electric’s revenue for the quarter was down 5.1% on a year-over-year basis. analysts predict that General Electric will post 1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Investors of record on Wednesday, December 27th were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 3.22%. General Electric’s payout ratio is 44.44%.
GE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Morningstar set a $23.50 target price on shares of General Electric and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup dropped their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 target price on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.42.
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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