Plimoth Trust Co. LLC trimmed its stake in General Electric (NYSE:GE) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,305 shares of the conglomerate’s stock after selling 9,990 shares during the quarter. Plimoth Trust Co. LLC’s holdings in General Electric were worth $2,815,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of GE. Psagot Investment House Ltd. lifted its position in shares of General Electric by 2,862.2% in the third quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock valued at $115,000 after buying an additional 9,846 shares during the last quarter. Beech Hill Advisors Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $119,000. LVW Advisors LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $127,000. Dynasty Wealth Management LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $127,000. Finally, Barry Investment Advisors LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $128,000. Hedge funds and other institutional investors own 54.46% of the company’s stock.
A number of research firms have recently issued reports on GE. Vertical Research raised General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. Goldman Sachs Group set a $14.00 price objective on General Electric and gave the company a “neutral” rating in a research report on Tuesday, October 30th. UBS Group set a $13.00 price target on General Electric and gave the stock a “buy” rating in a report on Monday, December 10th. JPMorgan Chase & Co. raised General Electric from an “underweight” rating to a “neutral” rating and set a $6.00 price target for the company in a report on Thursday, December 13th. Finally, William Blair reissued a “buy” rating on shares of General Electric in a report on Monday, January 14th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $13.04.
NYSE:GE opened at $10.03 on Tuesday. The company has a market cap of $85.18 billion, a P/E ratio of 15.43, a PEG ratio of 3.06 and a beta of 0.99. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.14. General Electric has a 1-year low of $6.66 and a 1-year high of $15.59.
General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $33.28 billion for the quarter, compared to analyst estimates of $32.01 billion. General Electric had a positive return on equity of 9.84% and a negative net margin of 18.38%. As a group, equities research analysts forecast that General Electric will post 0.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Thursday, December 20th were issued a $0.01 dividend. The ex-dividend date was Wednesday, December 19th. This represents a $0.04 annualized dividend and a yield of 0.40%. General Electric’s dividend payout ratio is presently 6.15%.
In related news, Director Francisco Dsouza acquired 60,000 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was purchased at an average cost of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now directly owns 151,500 shares of the company’s stock, valued at $1,260,480. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.12% of the stock is owned by insiders.
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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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