Greylin Investment Mangement Inc. Sells 17,675 Shares of General Electric (NYSE:GE)

Greylin Investment Mangement Inc. trimmed its position in General Electric (NYSE:GE) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm owned 265,255 shares of the conglomerate’s stock after selling 17,675 shares during the quarter. General Electric accounts for 0.6% of Greylin Investment Mangement Inc.’s holdings, making the stock its 28th largest position. Greylin Investment Mangement Inc.’s holdings in General Electric were worth $2,371,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashburton Jersey Ltd bought a new stake in shares of General Electric during the 2nd quarter worth $25,000. Employers Holdings Inc. bought a new stake in shares of General Electric during the 2nd quarter worth $28,000. Fusion Family Wealth LLC lifted its holdings in shares of General Electric by 10,516.0% during the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after acquiring an additional 2,629 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of General Electric during the 2nd quarter worth $30,000. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of General Electric by 307,700.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock worth $32,000 after acquiring an additional 3,077 shares during the last quarter. 59.27% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Thomas S. Timko acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were purchased at an average price of $8.83 per share, for a total transaction of $88,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas W. Horton acquired 55,248 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now directly owns 55,248 shares of the company’s stock, valued at approximately $498,336.96. The disclosure for this purchase can be found here. Insiders acquired 801,068 shares of company stock worth $6,954,745 in the last 90 days. Corporate insiders own 1.13% of the company’s stock.

A number of analysts have recently issued reports on the stock. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $13.00 to $11.50 in a report on Monday, July 15th. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on shares of General Electric in a report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price objective for the company. Royal Bank of Canada set a $13.00 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Monday. Finally, Barclays reissued a “buy” rating and issued a $12.00 price target on shares of General Electric in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $10.55.

General Electric stock traded up $0.41 during mid-day trading on Friday, hitting $8.86. The company’s stock had a trading volume of 36,880,723 shares, compared to its average volume of 46,471,980. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.44. The stock has a market cap of $77.24 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The business has a 50 day moving average price of $8.72 and a 200-day moving average price of $9.60. General Electric has a 12 month low of $6.66 and a 12 month high of $13.28.

General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. On average, equities research analysts expect that General Electric will post 0.63 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 16th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Friday, September 13th. General Electric’s payout ratio is 6.15%.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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