Nisa Investment Advisors LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 1.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,744,295 shares of the conglomerate’s stock after selling 35,011 shares during the period. Nisa Investment Advisors LLC’s holdings in General Electric were worth $31,012,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Archford Capital Strategies LLC acquired a new stake in shares of General Electric during the 1st quarter worth about $121,000. Fusion Family Wealth LLC increased its position in shares of General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 5,002 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of General Electric during the 1st quarter worth about $116,000. Amussen Hunsaker Associates LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $134,000. Finally, Private Capital Management LLC acquired a new stake in shares of General Electric during the 2nd quarter worth about $136,000. 54.48% of the stock is owned by institutional investors.
In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was bought at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Francisco Dsouza purchased 60,000 shares of the stock in a transaction dated Wednesday, November 14th. The shares were acquired at an average price of $8.32 per share, with a total value of $499,200.00. Following the transaction, the director now owns 151,500 shares in the company, valued at $1,260,480. The disclosure for this purchase can be found here. Insiders acquired a total of 295,000 shares of company stock valued at $2,783,250 in the last 90 days. Corporate insiders own 1.12% of the company’s stock.
GE opened at $7.01 on Friday. 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 stock has a market capitalization of $63.82 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 2.09 and a beta of 0.88. General Electric has a 1-year low of $6.99 and a 1-year high of $19.39.
General Electric (NYSE:GE) last posted its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. As a group, equities research analysts forecast that General Electric will post 0.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Thursday, December 20th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.57%. General Electric’s payout ratio is presently 45.71%.
A number of brokerages recently issued reports on GE. Deutsche Bank dropped their target price on shares of General Electric from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, November 30th. Morningstar set a $13.70 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Royal Bank of Canada reiterated a “buy” rating and set a $13.00 target price on shares of General Electric in a research report on Tuesday, November 20th. Goldman Sachs Group set a $9.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Friday, November 16th. Finally, Credit Suisse Group dropped their target price on shares of General Electric from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, November 12th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $13.86.
General Electric 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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