Golub Group LLC Cuts Stock Holdings in General Electric (NYSE:GE)

Golub Group LLC decreased its stake in shares of General Electric (NYSE:GE) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,533,755 shares of the conglomerate’s stock after selling 29,784 shares during the period. General Electric comprises about 1.8% of Golub Group LLC’s holdings, making the stock its 27th largest position. Golub Group LLC’s holdings in General Electric were worth $22,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in GE. Parkside Financial Bank & Trust lifted its position in shares of General Electric by 49.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 53,626 shares of the conglomerate’s stock valued at $480,000 after buying an additional 17,812 shares during the last quarter. Taylor Hoffman Wealth Management lifted its position in shares of General Electric by 12.3% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 37,551 shares of the conglomerate’s stock valued at $336,000 after buying an additional 4,101 shares during the last quarter. Whitnell & Co. lifted its position in shares of General Electric by 140.9% during the 3rd quarter. Whitnell & Co. now owns 20,409 shares of the conglomerate’s stock valued at $182,000 after buying an additional 11,937 shares during the last quarter. Lenox Wealth Management Inc. lifted its position in shares of General Electric by 54.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 12,059 shares of the conglomerate’s stock valued at $107,000 after buying an additional 4,232 shares during the last quarter. Finally, BigSur Wealth Management LLC lifted its position in shares of General Electric by 4.0% during the 3rd quarter. BigSur Wealth Management LLC now owns 51,650 shares of the conglomerate’s stock valued at $462,000 after buying an additional 2,000 shares during the last quarter. 58.97% of the stock is currently owned by institutional investors.

NYSE GE traded up $0.23 during trading on Friday, reaching $11.52. The company’s stock had a trading volume of 61,022,582 shares, compared to its average volume of 60,476,536. The stock has a market capitalization of $100.61 billion, a PE ratio of 17.72, a P/E/G ratio of 2.46 and a beta of 1.13. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The firm has a fifty day moving average of $9.25 and a 200 day moving average of $9.58. General Electric has a one year low of $6.66 and a one year high of $11.75.

General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. Research analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 16th were paid a $0.01 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. General Electric’s dividend payout ratio is currently 6.15%.

A number of research analysts have recently commented on the company. ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. set a $5.00 price target on General Electric and gave the company an “underweight” rating in a research report on Friday, November 1st. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Royal Bank of Canada reiterated a “buy” rating and set a $13.00 price objective on shares of General Electric in a research note on Wednesday, October 30th. Finally, UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $13.00 to $11.50 in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.41.

In other news, Director Leslie Seidman acquired 6,500 shares of General Electric stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $7.80 per share, for a total transaction of $50,700.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $50,700. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas S. Timko acquired 10,000 shares of General Electric stock in a transaction dated Monday, August 19th. The shares were purchased at an average price of $8.83 per share, for a total transaction of $88,300.00. The disclosure for this purchase can be found here. Insiders acquired a total of 801,068 shares of company stock worth $6,954,745 over the last 90 days. Corporate insiders own 1.13% of the company’s stock.

About General Electric

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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