General Electric (GE) Position Trimmed by Cypress Asset Management Inc. TX
Cypress Asset Management Inc. TX decreased its position in shares of General Electric (NYSE:GE) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,725 shares of the conglomerate’s stock after selling 30,394 shares during the quarter. General Electric accounts for approximately 1.6% of Cypress Asset Management Inc. TX’s investment portfolio, making the stock its 15th largest position. Cypress Asset Management Inc. TX’s holdings in General Electric were worth $7,562,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GE. MPS Loria Financial Planners LLC bought a new position in General Electric during the 2nd quarter valued at $113,000. Ffcm LLC bought a new position in General Electric during the 2nd quarter valued at $114,000. Corbenic Partners LLC lifted its stake 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 acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new position in General Electric during the 3rd quarter valued at $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in General Electric during the 3rd quarter valued at $204,000. 54.98% of the stock is owned by hedge funds and other institutional investors.
Shares of General Electric (NYSE GE) opened at $14.90 on Thursday. General Electric has a twelve month low of $14.23 and a twelve month high of $30.59. The firm has a market capitalization of $129,210.00, a PE ratio of 13.80, a P/E/G ratio of 2.81 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is currently 44.44%.
Several equities analysts have weighed in on GE shares. JPMorgan Chase & Co. restated a “sell” rating and set a $16.00 price objective (down from $17.00) on shares of General Electric in a research note on Monday, January 8th. Goldman Sachs Group set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. 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. Stifel Nicolaus set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Finally, 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. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.09.
In other news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction that occurred 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. In the last three months, insiders purchased 58,870 shares of company stock valued at $1,049,050. 0.36% of the stock is currently owned by insiders.
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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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