KCM Investment Advisors LLC cut its stake in shares of General Electric (NYSE:GE) by 41.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 111,144 shares of the conglomerate’s stock after selling 79,527 shares during the period. KCM Investment Advisors LLC’s holdings in General Electric were worth $1,513,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in GE. HC Financial Advisors Inc. purchased a new stake in shares of General Electric during the 4th quarter worth approximately $281,000. Stearns Financial Services Group boosted its stake in shares of General Electric by 5.8% during the 1st quarter. Stearns Financial Services Group now owns 319,678 shares of the conglomerate’s stock worth $4,309,000 after acquiring an additional 17,442 shares in the last quarter. Columbia Asset Management boosted its stake in shares of General Electric by 6.3% during the 1st quarter. Columbia Asset Management now owns 279,953 shares of the conglomerate’s stock worth $3,774,000 after acquiring an additional 16,534 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of General Electric by 8.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 34,433,303 shares of the conglomerate’s stock worth $464,161,000 after acquiring an additional 2,736,657 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of General Electric by 64.6% during the 1st quarter. Centaurus Financial Inc. now owns 46,866 shares of the conglomerate’s stock worth $632,000 after acquiring an additional 18,387 shares in the last quarter. Hedge funds and other institutional investors own 53.81% of the company’s stock.
GE stock opened at $8.58 on Friday. General Electric has a 1 year low of $8.15 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 2.03, a quick ratio of 1.36 and a current ratio of 1.66. The company has a market capitalization of $79.88 billion, a P/E ratio of 12.10, a P/E/G ratio of 2.47 and a beta of 0.95.
General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $30.08 billion. During the same period in the previous year, the company posted $0.29 EPS. General Electric’s quarterly revenue was down 3.6% compared to the same quarter last year. Analysts expect that General Electric will post 0.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Shareholders of record on Monday, September 17th were issued a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 5.59%. General Electric’s dividend payout ratio (DPR) is presently 45.71%.
Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price target on General Electric from $10.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday. Royal Bank of Canada set a $15.00 price target on General Electric and gave the stock a “neutral” rating in a research note on Monday, July 23rd. Deutsche Bank decreased their price target on General Electric from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Credit Suisse Group reissued a “neutral” rating and set a $12.00 price target on shares of General Electric in a research note on Wednesday, October 31st. Finally, Gabelli reaffirmed a “buy” rating on shares of General Electric in a research note on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus target price of $14.72.
In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the business’s stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $9.73 per share, for a total transaction of $2,189,250.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Dimitrief purchased 10,000 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $9.48 per share, with a total value of $94,800.00. Following the completion of the acquisition, the senior vice president now directly owns 103,075 shares in the company, valued at approximately $977,151. The disclosure for this purchase can be found here. Insiders own 1.12% of the company’s stock.
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About General Electric
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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