IBM Retirement Fund Sells 1,576 Shares of General Electric (NYSE:GE)

IBM Retirement Fund trimmed its position in shares of General Electric (NYSE:GE) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,517 shares of the conglomerate’s stock after selling 1,576 shares during the period. IBM Retirement Fund’s holdings in General Electric were worth $1,319,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GE. Ashburton Jersey Ltd purchased a new stake in General Electric in the 2nd quarter valued at about $25,000. Venturi Wealth Management LLC purchased a new stake in shares of General Electric in the 3rd quarter worth approximately $25,000. Employers Holdings Inc. purchased a new stake in shares of General Electric in the 2nd quarter worth approximately $28,000. Fusion Family Wealth LLC lifted its position in shares of General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the period. Finally, Manchester Financial Inc. purchased a new stake in shares of General Electric in the 2nd quarter worth approximately $30,000. Institutional investors own 58.92% of the company’s stock.

Shares of NYSE:GE traded down $0.13 during midday trading on Wednesday, reaching $11.29. The company’s stock had a trading volume of 51,032,617 shares, compared to its average volume of 73,295,063. The firm has a market capitalization of $98.25 billion, a PE ratio of 17.37, a P/E/G ratio of 2.80 and a beta of 1.13. General Electric has a twelve month low of $6.66 and a twelve month high of $11.75. The stock has a fifty day moving average of $9.38 and a 200 day moving average of $9.61. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67.

General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. Sell-side analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

Several equities research analysts have recently weighed in on GE shares. Citigroup set a $14.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Barclays reaffirmed a “buy” rating and issued a $12.00 price target on shares of General Electric in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $13.00 price target on shares of General Electric in a research report on Wednesday, October 30th. JPMorgan Chase & Co. set a $5.00 price target on shares of General Electric and gave the stock an “underweight” rating in a research report on Friday, November 1st. Finally, ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $10.41.

In other news, Director Leslie Seidman purchased 6,500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $7.80 per share, with a total value of $50,700.00. Following the completion of the acquisition, the director now owns 6,500 shares of the company’s stock, valued at approximately $50,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $7.93 per share, for a total transaction of $1,999,946.00. The disclosure for this purchase can be found here. Insiders have purchased 303,536 shares of company stock worth $2,417,982 over the last three months. 1.13% of the stock is currently owned by insiders.

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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