General Electric (GE) Shares Sold by Ashfield Capital Partners LLC
Ashfield Capital Partners LLC lowered its holdings in General Electric (NYSE:GE) by 12.8% during the 3rd quarter, Holdings Channel reports. The firm owned 297,850 shares of the conglomerate’s stock after selling 43,887 shares during the period. Ashfield Capital Partners LLC’s holdings in General Electric were worth $7,202,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Ffcm LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $114,000. MPS Loria Financial Planners LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $113,000. Corbenic Partners LLC lifted its position in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in shares of General Electric during the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC purchased a new position in shares of General Electric during the 2nd quarter valued at $209,000. 55.44% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on GE shares. JPMorgan Chase & Co. decreased their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Morningstar set a $23.50 price objective on General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Citigroup decreased their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.31.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. General Electric’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. equities analysts predict that General Electric will post 0.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.21%. General Electric’s dividend payout ratio is currently 44.44%.
In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The disclosure for this purchase can be found here. Insiders acquired a total of 124,370 shares of company stock worth $2,245,570 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.
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General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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