Intercontinental Wealth Advisors LLC Trims Stake in General Electric (NYSE:GE)

Intercontinental Wealth Advisors LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 16.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,035 shares of the conglomerate’s stock after selling 2,200 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in General Electric were worth $99,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also bought and sold shares of GE. Northstar Investment Advisors LLC purchased a new position in shares of General Electric in the 3rd quarter worth about $121,000. Bangor Savings Bank boosted its holdings in shares of General Electric by 12.6% in the 3rd quarter. Bangor Savings Bank now owns 20,959 shares of the conglomerate’s stock worth $187,000 after purchasing an additional 2,347 shares in the last quarter. Cerebellum GP LLC boosted its holdings in shares of General Electric by 501.9% in the 3rd quarter. Cerebellum GP LLC now owns 200,132 shares of the conglomerate’s stock worth $3,492,000 after purchasing an additional 166,881 shares in the last quarter. Cliftonlarsonallen Wealth Advisors LLC boosted its holdings in shares of General Electric by 3.7% in the 3rd quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 58,750 shares of the conglomerate’s stock worth $525,000 after purchasing an additional 2,113 shares in the last quarter. Finally, Bath Savings Trust Co boosted its holdings in shares of General Electric by 113.7% in the 3rd quarter. Bath Savings Trust Co now owns 61,864 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 32,918 shares in the last quarter. Institutional investors and hedge funds own 59.27% of the company’s stock.

A number of research firms have recently issued reports on GE. Zacks Investment Research cut General Electric from a “strong-buy” rating to a “hold” rating and set a $12.00 price objective for the company. in a report on Friday, August 2nd. Morgan Stanley began coverage on General Electric in a report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price objective for the company. William Blair reiterated a “buy” rating on shares of General Electric in a report on Friday, August 16th. Credit Suisse Group set a $11.00 price objective on General Electric and gave the stock a “hold” rating in a report on Friday, September 13th. Finally, ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.55.

Shares of NYSE GE traded up $0.07 during midday trading on Wednesday, reaching $8.35. The company had a trading volume of 33,146,955 shares, compared to its average volume of 74,721,523. General Electric has a one year low of $6.66 and a one year high of $13.66. The company has a quick ratio of 1.44, a current ratio of 1.73 and a debt-to-equity ratio of 1.65. The firm’s fifty day moving average price is $8.73 and its 200-day moving average price is $9.61. The stock has a market cap of $72.39 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

General Electric (NYSE:GE) last released its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. The company had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. During the same quarter in the previous year, the company posted $0.19 EPS. General Electric’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 0.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

In other General Electric news, Chairman H Lawrence Culp, Jr. purchased 331,684 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $9.04 per share, with a total value of $2,998,423.36. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Leslie Seidman purchased 6,500 shares of the stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $7.80 per share, with a total value of $50,700.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at $50,700. The disclosure for this purchase can be found here. In the last three months, insiders bought 801,068 shares of company stock valued at $6,954,745. 1.13% of the stock is currently owned by corporate insiders.

About General Electric

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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