Madison Investment Holdings Inc. lessened its holdings in shares of General Electric (NYSE:GE) by 49.1% in the third quarter, HoldingsChannel.com reports. The firm owned 300,103 shares of the conglomerate’s stock after selling 289,206 shares during the period. Madison Investment Holdings Inc.’s holdings in General Electric were worth $7,256,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Beach Investment Management LLC. purchased a new stake in shares of General Electric in the second quarter worth about $5,487,000. Corundum Group Inc. lifted its holdings in shares of General Electric by 11.6% in the second quarter. Corundum Group Inc. now owns 10,047 shares of the conglomerate’s stock worth $271,000 after buying an additional 1,043 shares in the last quarter. Summit Financial Strategies Inc. lifted its holdings in shares of General Electric by 4.8% in the second quarter. Summit Financial Strategies Inc. now owns 8,137 shares of the conglomerate’s stock worth $220,000 after buying an additional 369 shares in the last quarter. Pointe Capital Management LLC lifted its holdings in shares of General Electric by 28.0% in the second quarter. Pointe Capital Management LLC now owns 19,838 shares of the conglomerate’s stock worth $536,000 after buying an additional 4,344 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its holdings in shares of General Electric by 10.1% in the second quarter. Palisade Asset Management LLC now owns 385,404 shares of the conglomerate’s stock worth $10,410,000 after buying an additional 35,495 shares in the last quarter. Hedge funds and other institutional investors own 56.42% of the company’s stock.
General Electric (NYSE:GE) opened at $14.94 on Monday. The company has a market cap of $129,717.69, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. General Electric has a one year low of $13.95 and a one year high of $30.54. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.36% of the company’s stock.
GE has been the topic of a number of recent analyst reports. Vertical Research set a $18.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. UBS Group initiated coverage on shares of General Electric in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 target price on the stock. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Citigroup set a $25.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $18.44.
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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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