MetLife Investment Advisors LLC trimmed its position in General Electric (NYSE:GE) by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,556,765 shares of the conglomerate’s stock after selling 56,163 shares during the period. MetLife Investment Advisors LLC’s holdings in General Electric were worth $34,798,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new stake in shares of General Electric in the fourth quarter valued at approximately $281,000. GFS Advisors LLC boosted its position in shares of General Electric by 13.1% in the first quarter. GFS Advisors LLC now owns 967,328 shares of the conglomerate’s stock valued at $13,039,000 after acquiring an additional 112,121 shares during the period. Alpha Cubed Investments LLC boosted its position in shares of General Electric by 88.0% in the first quarter. Alpha Cubed Investments LLC now owns 80,444 shares of the conglomerate’s stock valued at $1,084,000 after acquiring an additional 37,649 shares during the period. Banque Pictet & Cie SA boosted its position in shares of General Electric by 8.8% in the first quarter. Banque Pictet & Cie SA now owns 270,934 shares of the conglomerate’s stock valued at $3,652,000 after acquiring an additional 21,801 shares during the period. Finally, Mint Tower Capital Management B.V. bought a new stake in shares of General Electric in the first quarter valued at approximately $202,000. Institutional investors own 53.78% of the company’s stock.
Shares of NYSE GE opened at $8.02 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.36. The firm has a market capitalization of $69.63 billion, a P/E ratio of 10.55, a PEG ratio of 2.27 and a beta of 0.95. General Electric has a one year low of $7.72 and a one year high of $19.39.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were paid a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.99%. General Electric’s payout ratio is 45.71%.
In related news, SVP Alexander Dimitrief acquired 10,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the completion of the purchase, the senior vice president now directly owns 103,075 shares of the company’s stock, valued at approximately $977,151. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Francisco Dsouza acquired 60,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were bought at an average price of $8.32 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now directly owns 151,500 shares of the company’s stock, valued at $1,260,480. The disclosure for this purchase can be found here. Insiders purchased 295,000 shares of company stock valued at $2,783,250 over the last 90 days. 1.12% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on the company. Gordon Haskett assumed coverage on General Electric in a research report on Friday, October 12th. They issued a “sell” rating for the company. Royal Bank of Canada reduced their price objective on General Electric to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 28th. Oppenheimer reissued a “neutral” rating on shares of General Electric in a research report on Tuesday, October 2nd. Citigroup set a $21.00 price objective on General Electric and gave the company a “buy” rating in a research report on Monday, October 1st. Finally, Goldman Sachs Group set a $14.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Tuesday, October 30th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.33.
COPYRIGHT VIOLATION NOTICE: “General Electric (GE) Holdings Trimmed by MetLife Investment Advisors LLC” was published by WKRB News and is the property of of WKRB News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.wkrb13.com/2018/11/18/general-electric-ge-holdings-trimmed-by-metlife-investment-advisors-llc.html.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.