Blume Capital Management Inc. Reduces Position in General Electric (GE)

Blume Capital Management Inc. decreased its stake in General Electric (NYSE:GE) by 80.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,384 shares of the conglomerate’s stock after selling 162,529 shares during the period. Blume Capital Management Inc.’s holdings in General Electric were worth $306,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA increased its position in General Electric by 250.0% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 2,500 shares during the period. Mackey Komara & Dankovich LLC acquired a new position in General Electric in the 4th quarter valued at approximately $27,000. Edge Wealth Management LLC increased its position in General Electric by 47.4% in the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 1,300 shares during the period. NuWave Investment Management LLC increased its position in General Electric by 170.3% in the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock valued at $46,000 after acquiring an additional 3,790 shares during the period. Finally, Orrstown Financial Services Inc. increased its position in General Electric by 26.6% in the 4th quarter. Orrstown Financial Services Inc. now owns 7,139 shares of the conglomerate’s stock valued at $54,000 after acquiring an additional 1,500 shares during the period. 57.72% of the stock is owned by institutional investors and hedge funds.

NYSE:GE opened at $8.98 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $79.19 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 4.04 and a beta of 0.99. General Electric has a 12 month low of $6.66 and a 12 month high of $15.59.



General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion. General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. As a group, research analysts anticipate that General Electric will post 0.53 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Friday, March 8th. General Electric’s payout ratio is 6.15%.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. cut shares of General Electric from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $6.00 to $5.00 in a research report on Monday, April 8th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Royal Bank of Canada set a $12.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $11.00 price objective on shares of General Electric in a research report on Friday, March 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. General Electric presently has an average rating of “Hold” and an average target price of $12.39.

In other General Electric news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.13% of the company’s stock.

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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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