Capital International Investors decreased its stake in shares of General Electric (NYSE:GE) by 64.2% in the third quarter, Holdings Channel reports. The institutional investor owned 7,666,234 shares of the conglomerate’s stock after selling 13,752,316 shares during the quarter. Capital International Investors’ holdings in General Electric were worth $185,370,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Ffcm LLC purchased a new position in shares of General Electric in the second quarter worth $114,000. MPS Loria Financial Planners LLC purchased a new position in shares of General Electric in the second quarter worth $113,000. Corbenic Partners LLC raised its stake in shares of 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 purchasing an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in shares of General Electric in the third quarter worth $164,000. Finally, Tuttle Tactical Management LLC purchased a new position in shares of General Electric in the second quarter worth $209,000. Institutional investors and hedge funds own 56.42% of the company’s stock.
In related news, insider Alexander Dimitrief purchased 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the acquisition, the insider now 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 accessible through this hyperlink. Insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 11.60%. The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. equities analysts forecast that General Electric will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is presently -66.67%.
Several research analysts have recently weighed in on GE shares. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a research note on Wednesday, January 10th. Bank of America restated a “buy” rating and issued a $23.00 price target (down previously from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $25.00 price target on General Electric and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet cut General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average price target of $18.44.
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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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