Rosenblum Silverman Sutton S F Inc. CA reduced its stake in General Electric (NYSE:GE) by 32.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 126,350 shares of the conglomerate’s stock after selling 61,639 shares during the quarter. Rosenblum Silverman Sutton S F Inc. CA’s holdings in General Electric were worth $3,055,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of GE. MPS Loria Financial Planners LLC bought a new stake in General Electric in the second quarter valued at $113,000. Ffcm LLC bought a new stake in General Electric in the second quarter valued at $114,000. Corbenic Partners LLC increased its stake in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in General Electric in the third quarter valued at $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in General Electric in the second quarter valued at $209,000. 55.63% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Steven M. Mollenkopf acquired 5,500 shares of General Electric stock in a transaction on Thursday, November 16th. The stock was acquired at an average cost of $18.24 per share, with a total value of $100,320.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. 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 120,500 shares of company stock valued at $2,183,220 over the last ninety days. 0.36% of the stock is currently owned by insiders.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. research analysts anticipate that General Electric will post 1.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.
Several research firms have weighed in on GE. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $16.00 price target (down from $17.00) on shares of General Electric in a research note on Monday. Tigress Financial reissued a “hold” rating on shares of General Electric in a research report on Thursday, December 28th. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Monday, December 11th. Goldman Sachs Group set a $19.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Finally, Deutsche Bank decreased their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, November 21st. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.33.
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