General Electric (GE) Holdings Cut by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its holdings in General Electric (NYSE:GE) by 8.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 124,084 shares of the conglomerate’s stock after selling 11,539 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in General Electric were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Edge Wealth Management LLC boosted its stake in General Electric by 47.4% in the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 1,300 shares during the period. Tortoise Investment Management LLC boosted its stake in General Electric by 24.8% in the 3rd quarter. Tortoise Investment Management LLC now owns 8,654 shares of the conglomerate’s stock worth $98,000 after purchasing an additional 1,719 shares during the period. Hunter Associates Investment Management LLC boosted its stake in General Electric by 3.7% in the 2nd quarter. Hunter Associates Investment Management LLC now owns 111,177 shares of the conglomerate’s stock worth $1,513,000 after purchasing an additional 3,978 shares during the period. Philadelphia Trust Co. boosted its stake in General Electric by 12.6% in the 2nd quarter. Philadelphia Trust Co. now owns 35,763 shares of the conglomerate’s stock worth $487,000 after purchasing an additional 3,998 shares during the period. Finally, Ausdal Financial Partners Inc. boosted its stake in General Electric by 7.8% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 59,357 shares of the conglomerate’s stock worth $808,000 after purchasing an additional 4,293 shares during the period. Hedge funds and other institutional investors own 53.73% of the company’s stock.

Several research firms have weighed in on GE. JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $10.00 price target on shares of General Electric in a report on Thursday, October 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $15.00 price target on shares of General Electric in a report on Tuesday, October 30th. Goldman Sachs Group set a $14.00 price target on General Electric and gave the company a “neutral” rating in a report on Tuesday, October 30th. Citigroup lowered their price target on General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Finally, Bank of America reaffirmed a “hold” rating and issued a $11.00 price target on shares of General Electric in a report on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.04.

Shares of NYSE GE opened at $10.03 on Friday. The stock has a market cap of $87.69 billion, a P/E ratio of 15.43, a PEG ratio of 3.15 and a beta of 0.99. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.36 and a current ratio of 1.66. General Electric has a 1-year low of $6.66 and a 1-year high of $15.59.

General Electric (NYSE:GE) last announced its quarterly earnings data on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $33.28 billion for the quarter, compared to analysts’ expectations of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.84%. As a group, equities analysts expect that General Electric will post 0.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.40%. General Electric’s dividend payout ratio is 6.15%.

ILLEGAL ACTIVITY WARNING: “General Electric (GE) Holdings Cut by Ipswich Investment Management Co. Inc.” was first posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark law. The correct version of this news story can be viewed at https://www.themarketsdaily.com/2019/02/22/general-electric-ge-holdings-cut-by-ipswich-investment-management-co-inc.html.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

Featured Story: Is a Roth IRA right for you?

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply