General Electric (GE) Position Reduced by Fayez Sarofim & Co.
Fayez Sarofim & Co. lessened its stake in General Electric (NYSE:GE) by 52.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,380,046 shares of the conglomerate’s stock after selling 1,504,797 shares during the period. Fayez Sarofim & Co.’s holdings in General Electric were worth $33,369,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. MPS Loria Financial Planners LLC purchased a new position in General Electric during the 2nd quarter valued at about $113,000. Ffcm LLC purchased a new position in General Electric during the 2nd quarter valued at about $114,000. Corbenic Partners LLC increased its position in 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 purchasing an additional 725 shares during the period. Bristlecone Advisors LLC purchased a new position in General Electric during the 3rd quarter valued at about $164,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new position in General Electric during the 3rd quarter valued at about $204,000. 54.98% of the stock is currently owned by institutional investors.
Shares of General Electric (NYSE GE) opened at $14.67 on Wednesday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a 12 month low of $14.23 and a 12 month high of $30.59. The company has a market cap of $128,520.30, a P/E ratio of -20.37, a price-to-earnings-growth ratio of 2.81 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 64,370 shares of company stock valued at $1,149,370. Company insiders own 0.36% of the company’s stock.
A number of research firms have commented on GE. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Vertical Research set a $16.00 target price on shares of General Electric and gave the company a “hold” rating in a research report on Tuesday. Stifel Nicolaus cut their target price on shares of General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Deutsche Bank reissued a “sell” rating and set a $13.00 target price (down previously from $15.00) on shares of General Electric in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $14.00 target price (down previously from $16.00) on shares of General Electric in a research report on Monday. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.09.
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General Electric 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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