Tompkins Financial Corp Sells 4,028 Shares of General Electric (NYSE:GE)

Tompkins Financial Corp lowered its position in General Electric (NYSE:GE) by 9.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,602 shares of the conglomerate’s stock after selling 4,028 shares during the period. Tompkins Financial Corp’s holdings in General Electric were worth $345,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bellecapital International Ltd. boosted its stake in General Electric by 166.4% during the second quarter. Bellecapital International Ltd. now owns 48,990 shares of the conglomerate’s stock valued at $514,000 after buying an additional 30,600 shares during the period. Resource Management LLC boosted its stake in General Electric by 22.4% during the second quarter. Resource Management LLC now owns 76,386 shares of the conglomerate’s stock valued at $802,000 after buying an additional 13,977 shares during the period. ANTIPODES PARTNERS Ltd boosted its stake in General Electric by 5.6% during the second quarter. ANTIPODES PARTNERS Ltd now owns 14,753,170 shares of the conglomerate’s stock valued at $154,908,000 after buying an additional 781,672 shares during the period. Comerica Bank boosted its stake in General Electric by 1.6% during the second quarter. Comerica Bank now owns 1,954,457 shares of the conglomerate’s stock valued at $19,506,000 after buying an additional 31,411 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in General Electric by 13.5% during the second quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after buying an additional 14,033 shares during the period. Institutional investors and hedge funds own 59.28% of the company’s stock.

In other General Electric news, Director Leslie Seidman purchased 6,500 shares of General Electric stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $7.80 per share, for a total transaction of $50,700.00. Following the acquisition, the director now directly owns 6,500 shares in the company, valued at $50,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $9.04 per share, for a total transaction of $2,998,423.36. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 801,068 shares of company stock worth $6,954,745. 1.13% of the stock is owned by company insiders.

Shares of NYSE GE traded down $0.05 during midday trading on Friday, reaching $8.99. The company had a trading volume of 20,857,626 shares, compared to its average volume of 43,586,056. General Electric has a one year low of $6.66 and a one year high of $12.81. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65. The firm’s fifty day moving average price is $8.84 and its 200-day moving average price is $9.56. The stock has a market cap of $78.41 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11.

General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company had revenue of $28.83 billion for the quarter, compared to the consensus estimate of $28.83 billion. During the same quarter in the previous year, the business earned $0.19 EPS. General Electric’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts expect that General Electric will post 0.61 EPS for the current year.

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

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a research note on Monday, October 7th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research note on Friday, August 16th. Morgan Stanley assumed coverage on General Electric in a research note on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price target for the company. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada set a $13.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $10.55.

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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