Colony Group LLC lowered its position in shares of General Electric (NYSE:GE) by 10.2% during the second quarter, Holdings Channel reports. The fund owned 257,499 shares of the conglomerate’s stock after selling 29,235 shares during the quarter. Colony Group LLC’s holdings in General Electric were worth $3,505,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fusion Family Wealth LLC increased its stake in General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after buying an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC purchased a new stake in General Electric during the 1st quarter worth $116,000. Archford Capital Strategies LLC bought a new stake in General Electric during the 1st quarter worth about $121,000. Blue Chip Wealth Management Inc. bought a new stake in General Electric during the 1st quarter worth about $135,000. Finally, Harborview Advisors LLC bought a new stake in General Electric during the 1st quarter worth about $137,000. Hedge funds and other institutional investors own 53.78% of the company’s stock.
GE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $11.00 price objective on shares of General Electric and gave the stock a “sell” rating in a report on Monday, July 23rd. Gabelli reissued a “buy” rating and set a $21.00 price objective on shares of General Electric in a report on Monday, September 24th. Citigroup decreased their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, October 30th. Morningstar set a $15.70 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Monday, August 13th. Finally, Barclays raised shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective on the stock in a report on Monday, October 8th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.33.
General Electric (NYSE:GE) last issued its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The business had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 EPS. Analysts expect that General Electric will post 0.67 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were given a $0.12 dividend. The ex-dividend date was Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.99%. General Electric’s dividend payout ratio is 45.71%.
In other news, SVP Alexander Dimitrief purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the senior vice president now directly owns 103,075 shares of the company’s stock, valued at approximately $977,151. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The disclosure for this purchase can be found here. Insiders purchased a total of 295,000 shares of company stock worth $2,783,250 over the last quarter. 1.12% of the stock is currently owned by corporate insiders.
General Electric Company Profile
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.
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