Wayne Hummer Investments L.L.C. Decreases Holdings in General Electric (GE)
Wayne Hummer Investments L.L.C. lessened its stake in shares of General Electric (NYSE:GE) by 24.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 43,031 shares of the conglomerate’s stock after selling 13,876 shares during the quarter. Wayne Hummer Investments L.L.C.’s holdings in General Electric were worth $1,040,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Ffcm LLC acquired a new position in shares of General Electric during the second quarter worth $114,000. MPS Loria Financial Planners LLC acquired a new position in shares of General Electric during the second quarter worth $113,000. Corbenic Partners LLC lifted its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of General Electric during the third quarter worth $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of General Electric during the second quarter worth $209,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of General Electric stock in a transaction on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 124,370 shares of company stock valued at $2,245,570 over the last ninety days. 0.36% of the stock is currently owned by insiders.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. research analysts anticipate that General Electric will post 0.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is 44.44%.
A number of brokerages have recently commented on GE. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $14.00 price target (down previously from $16.00) on shares of General Electric in a report on Monday. Deutsche Bank reiterated a “sell” rating and set a $13.00 price target (down previously from $15.00) on shares of General Electric in a report on Thursday. Stifel Nicolaus dropped their target price on shares of General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Tuesday, January 30th. TheStreet lowered shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Finally, Credit Suisse Group restated a “hold” rating and issued a $16.00 target price on shares of General Electric in a report on Tuesday, January 30th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $21.20.
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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