First Financial Corp IN decreased its holdings in General Electric (NYSE:GE) by 11.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,779 shares of the conglomerate’s stock after selling 5,748 shares during the quarter. First Financial Corp IN’s holdings in General Electric were worth $494,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Greenline Partners LLC increased its stake in shares of General Electric by 20.7% in the 3rd quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock valued at $1,503,000 after buying an additional 22,584 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of General Electric by 2.5% in the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock valued at $38,094,000 after buying an additional 67,257 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of General Electric by 2.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after buying an additional 24,812 shares during the period. Pure Financial Advisors Inc. acquired a new stake in shares of General Electric in the 2nd quarter valued at $207,000. Finally, Tributary Capital Management LLC increased its stake in shares of General Electric by 5,184.5% in the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the period. Hedge funds and other institutional investors own 54.48% of the company’s stock.
In other General Electric news, Chairman H Lawrence Culp, Jr. bought 225,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was purchased at an average cost of $9.73 per share, with a total value of $2,189,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francisco Dsouza bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was acquired at an average cost of $8.32 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now owns 151,500 shares of the company’s stock, valued at approximately $1,260,480. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 295,000 shares of company stock valued at $2,783,250. Insiders own 1.12% of the company’s stock.
General Electric (NYSE:GE) last posted its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 0.67 earnings per share for the current year.
A number of equities research analysts recently commented on the company. UBS Group cut General Electric to an “add” rating and set a $23.00 price objective for the company. in a research note on Tuesday, October 2nd. Citigroup set a $21.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, October 1st. Morningstar set a $15.70 price objective on General Electric and gave the stock a “buy” rating in a research note on Monday, August 13th. Gabelli reaffirmed a “buy” rating and set a $21.00 price objective on shares of General Electric in a research note on Monday, September 24th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $15.00 price objective on shares of General Electric in a research note on Tuesday, October 30th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average price target of $13.86.
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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.
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