Cumberland Advisors Inc. Makes New Investment in General Electric (NYSE:GE)

Cumberland Advisors Inc. acquired a new position in General Electric (NYSE:GE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 135,300 shares of the conglomerate’s stock, valued at approximately $1,510,000.

Several other institutional investors have also made changes to their positions in GE. Merit Financial Group LLC bought a new stake in General Electric in the 4th quarter worth $242,000. Hemenway Trust Co LLC boosted its holdings in shares of General Electric by 33.7% during the fourth quarter. Hemenway Trust Co LLC now owns 33,701 shares of the conglomerate’s stock worth $376,000 after purchasing an additional 8,500 shares during the period. IMS Capital Management boosted its holdings in shares of General Electric by 26.0% during the fourth quarter. IMS Capital Management now owns 55,965 shares of the conglomerate’s stock worth $625,000 after purchasing an additional 11,556 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of General Electric in the fourth quarter worth about $253,000. Finally, New England Professional Planning Group Inc. bought a new stake in shares of General Electric in the fourth quarter worth about $244,000. 60.21% of the stock is owned by institutional investors.

GE traded down $0.04 on Thursday, hitting $11.83. The company had a trading volume of 25,475,496 shares, compared to its average volume of 52,284,280. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. General Electric has a 52-week low of $7.65 and a 52-week high of $12.23. The stock has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $10.06. The firm has a market capitalization of $103.67 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.56 and a beta of 1.16.

General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The business had revenue of $23.36 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.14 EPS. The business’s revenue was down .1% on a year-over-year basis. Equities research analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 23rd will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, December 20th. General Electric’s payout ratio is presently 6.15%.

GE has been the topic of a number of research analyst reports. Deutsche Bank boosted their price target on General Electric from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. William Blair reiterated a “buy” rating on shares of General Electric in a report on Tuesday, December 3rd. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Barclays reissued a “buy” rating and set a $13.00 target price on shares of General Electric in a research note on Sunday, December 8th. Finally, Royal Bank of Canada restated a “buy” rating and set a $13.00 target price on shares of General Electric in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and an average price target of $10.92.

General Electric Company 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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