Adirondack Trust Co. cut its position in shares of General Electric Company (NYSE:GE) by 13.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,976 shares of the conglomerate’s stock after selling 11,040 shares during the quarter. General Electric accounts for 1.5% of Adirondack Trust Co.’s portfolio, making the stock its 15th biggest holding. Adirondack Trust Co.’s holdings in General Electric were worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new position in General Electric during the first quarter worth about $106,000. PHH Investments Ltd. lifted its stake in General Electric by 105.0% during the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the period. Barber Financial Group Inc. lifted its stake in General Electric by 3.1% during the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after purchasing an additional 220 shares during the period. Flaharty Asset Management LLC bought a new position in General Electric during the first quarter worth about $226,000. Finally, Oakmont Partners LLC lifted its stake in General Electric by 3.6% during the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after purchasing an additional 278 shares during the period. 54.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric Company (NYSE:GE) opened at $17.90 on Wednesday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric Company has a fifty-two week low of $17.46 and a fifty-two week high of $32.38. The company has a market cap of $164,943.92, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11.
General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period in the prior year, the firm posted $0.32 EPS. General Electric’s revenue was up 11.5% on a year-over-year basis. equities analysts forecast that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio is presently 120.00%.
In other General Electric news, Director James S. Tisch bought 100,000 shares of the stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average price of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is currently owned by insiders.
A number of research analysts have commented on GE shares. J P Morgan Chase & Co cut their price target on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. UBS AG restated a “buy” rating and set a $31.00 price target (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Bank of America Corporation upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Monday, October 23rd. Royal Bank Of Canada set a $25.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Citigroup Inc. set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and an average price target of $25.02.
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