TCI Wealth Advisors Inc. trimmed its position in General Electric (NYSE:GE) by 17.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,189 shares of the conglomerate’s stock after selling 12,134 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in General Electric were worth $646,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of GE. FMR LLC increased its holdings in shares of General Electric by 158.6% in the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after purchasing an additional 126,169,069 shares during the period. Morgan Stanley increased its holdings in shares of General Electric by 26.1% in the second quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after purchasing an additional 11,294,608 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of General Electric by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 36,605,388 shares of the conglomerate’s stock valued at $498,200,000 after purchasing an additional 2,172,085 shares during the period. Swiss National Bank increased its holdings in shares of General Electric by 3.2% in the second quarter. Swiss National Bank now owns 28,706,161 shares of the conglomerate’s stock valued at $390,691,000 after purchasing an additional 883,200 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of General Electric by 6.0% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 26,814,410 shares of the conglomerate’s stock valued at $364,944,000 after purchasing an additional 1,507,722 shares during the period. Institutional investors and hedge funds own 54.52% of the company’s stock.
In other General Electric news, Director Francisco Dsouza bought 60,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The stock was bought at an average price of $8.32 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now directly owns 151,500 shares in the company, valued at $1,260,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of the company’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 295,000 shares of company stock valued at $2,783,250. 1.12% of the stock is owned by insiders.
NYSE:GE opened at $8.94 on Friday. General Electric has a one year low of $6.66 and a one year high of $19.15. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. The company has a market capitalization of $73.80 billion, a P/E ratio of 8.51, a P/E/G ratio of 2.18 and a beta of 0.67.
General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The company had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. During the same period in the prior year, the business posted $0.29 EPS. General Electric’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts anticipate that General Electric will post 0.67 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Thursday, December 20th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, December 19th. This represents a $0.04 annualized dividend and a yield of 0.45%. General Electric’s dividend payout ratio (DPR) is 3.81%.
A number of brokerages have recently commented on GE. JPMorgan Chase & Co. restated a “sell” rating and issued a $11.00 target price on shares of General Electric in a research note on Friday, September 14th. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Gabelli restated a “buy” rating and issued a $21.00 target price on shares of General Electric in a research note on Monday, September 24th. Bank of America set a $16.00 target price on General Electric and gave the stock a “hold” rating in a research note on Monday, September 24th. Finally, Independent Research reiterated a “neutral” rating and set a $13.30 price target on shares of General Electric in a research report on Wednesday, September 26th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.81.
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General Electric Company Profile
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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