Peddock Capital Advisors LLC Has $121,000 Stock Position in General Electric (NYSE:GE)

Peddock Capital Advisors LLC lowered its stake in General Electric (NYSE:GE) by 9.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 11,500 shares of the conglomerate’s stock after selling 1,207 shares during the period. Peddock Capital Advisors LLC’s holdings in General Electric were worth $121,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Resource Management LLC boosted its holdings in General Electric by 22.4% in the 2nd quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock valued at $802,000 after purchasing an additional 13,977 shares during the period. Bellecapital International Ltd. boosted its holdings in General Electric by 166.4% in the 2nd quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after purchasing an additional 30,600 shares during the period. Carroll Financial Associates Inc. boosted its holdings in General Electric by 13.5% in the 2nd quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after purchasing an additional 14,033 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in General Electric by 6.3% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after purchasing an additional 88,000 shares during the period. Finally, GYL Financial Synergies LLC bought a new stake in General Electric in the 4th quarter valued at about $238,000. Institutional investors and hedge funds own 58.85% of the company’s stock.

A number of analysts have issued reports on the stock. William Blair reissued a “buy” rating on shares of General Electric in a report on Friday, August 16th. Zacks Investment Research downgraded shares of General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Friday, August 2nd. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Friday, August 16th. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $11.50 in a report on Monday, July 15th. Finally, Cowen reaffirmed a “hold” rating and set a $8.00 price target on shares of General Electric in a report on Wednesday, May 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.68.

In related news, Chairman H Lawrence Culp, Jr. acquired 252,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $7.93 per share, for a total transaction of $1,999,946.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Thomas S. Timko acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were bought at an average price of $8.83 per share, with a total value of $88,300.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 794,568 shares of company stock valued at $6,904,045. 1.13% of the stock is owned by corporate insiders.

Shares of General Electric stock traded up $0.12 on Thursday, reaching $8.28. 1,705,750 shares of the stock were exchanged, compared to its average volume of 96,488,472. The firm’s 50 day moving average is $9.85 and its 200-day moving average is $9.93. General Electric has a one year low of $6.66 and a one year high of $13.78. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. The firm has a market cap of $75.66 billion, a PE ratio of 12.77, a P/E/G ratio of 1.87 and a beta of 1.03.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter in the prior year, the firm posted $0.19 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, equities research analysts expect that General Electric will post 0.64 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Monday, July 1st were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Friday, June 28th. General Electric’s dividend payout ratio is 6.15%.

About General Electric

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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