National Asset Management Inc. lowered its holdings in shares of General Electric (NYSE:GE) by 7.1% in the 3rd quarter, Holdings Channel reports. The fund owned 129,946 shares of the conglomerate’s stock after selling 9,986 shares during the period. National Asset Management Inc.’s holdings in General Electric were worth $1,468,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Fusion Family Wealth LLC grew its holdings in shares of General Electric by 153.3% during the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after buying an additional 5,002 shares during the last quarter. Amussen Hunsaker Associates LLC acquired a new position in shares of General Electric during the second quarter valued at about $134,000. Private Capital Management LLC acquired a new position in shares of General Electric during the second quarter valued at about $136,000. Cooper Haims Advisors LLC acquired a new position in shares of General Electric during the second quarter valued at about $138,000. Finally, Psagot Investment House Ltd. grew its holdings in shares of General Electric by 2,862.2% during the third quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock valued at $115,000 after buying an additional 9,846 shares during the last quarter. 54.49% of the stock is owned by hedge funds and other institutional investors.
In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average price of $9.73 per share, with a total value of $2,189,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of the stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the senior vice president now owns 103,075 shares of the company’s stock, valued at $977,151. The disclosure for this purchase can be found here. In the last three months, insiders bought 295,000 shares of company stock worth $2,783,250. Insiders own 1.12% of the company’s stock.
General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The business’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 EPS. Research analysts predict that General Electric will post 0.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Thursday, December 20th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Wednesday, December 19th. General Electric’s dividend payout ratio (DPR) is currently 3.81%.
A number of brokerages have recently issued reports on GE. UBS Group cut shares of General Electric to an “add” rating and set a $23.00 price objective for the company. in a report on Tuesday, October 2nd. Cowen restated a “hold” rating and set a $14.50 price target on shares of General Electric in a report on Monday, October 1st. Barclays restated a “neutral” rating and set a $16.00 price target on shares of General Electric in a report on Tuesday, October 2nd. Morningstar set a $15.70 price target on shares of General Electric and gave the stock a “buy” rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. restated a “sell” rating and set a $10.00 price target on shares of General Electric in a report on Thursday, October 25th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $13.32.
About General Electric
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.
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