Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Increases Holdings in General Electric (NYSE:GE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of General Electric (NYSE:GE) by 15.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 103,309 shares of the conglomerate’s stock after buying an additional 13,609 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in General Electric were worth $644,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. FormulaFolio Investments LLC increased its stake in shares of General Electric by 16.8% in the 3rd quarter. FormulaFolio Investments LLC now owns 39,639 shares of the conglomerate’s stock worth $247,000 after purchasing an additional 5,692 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV increased its stake in shares of General Electric by 5.4% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 91,685 shares of the conglomerate’s stock worth $572,000 after purchasing an additional 4,679 shares in the last quarter. Fortem Financial Group LLC increased its stake in shares of General Electric by 11.4% in the 3rd quarter. Fortem Financial Group LLC now owns 39,040 shares of the conglomerate’s stock worth $243,000 after purchasing an additional 4,000 shares in the last quarter. Heron Financial Group LLC increased its stake in shares of General Electric by 10.7% in the 3rd quarter. Heron Financial Group LLC now owns 20,747 shares of the conglomerate’s stock worth $133,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV increased its stake in shares of General Electric by 10.5% in the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 87,815 shares of the conglomerate’s stock worth $547,000 after purchasing an additional 8,347 shares in the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

GE opened at $7.29 on Friday. The firm has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $6.65. General Electric has a 52 week low of $5.48 and a 52 week high of $13.26. The company has a market capitalization of $63.81 billion, a PE ratio of -12.57 and a beta of 0.92. The company has a quick ratio of 1.95, a current ratio of 2.21 and a debt-to-equity ratio of 2.05.

General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, July 29th. The conglomerate reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The company had revenue of $17.75 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same period last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post -0.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, September 28th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, September 25th. General Electric’s payout ratio is 6.15%.

In related news, Director Trian Fund Management, L.P. sold 15,569,158 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $6.14, for a total value of $95,594,630.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward P. Garden sold 3,264,481 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $6.09, for a total transaction of $19,880,689.29. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Several research firms have recently commented on GE. Zacks Investment Research upgraded General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price objective for the company in a research note on Wednesday. Oppenheimer reiterated a “hold” rating on shares of General Electric in a research note on Monday, August 3rd. Goldman Sachs Group reiterated a “buy” rating and issued a $10.00 price target on shares of General Electric in a research note on Friday, October 9th. ValuEngine upgraded General Electric from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. reiterated a “fair value” rating on shares of General Electric in a research note on Monday, August 31st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. General Electric currently has an average rating of “Buy” and a consensus price target of $9.09.

General Electric Company Profile

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

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

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