Versant Capital Management Inc reduced its position in General Electric (NYSE:GE) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,811 shares of the conglomerate’s stock after selling 4,678 shares during the quarter. Versant Capital Management Inc’s holdings in General Electric were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashburton Jersey Ltd purchased a new stake in shares of General Electric in the second quarter valued at $25,000. Employers Holdings Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at approximately $28,000. Fusion Family Wealth LLC increased its holdings in shares of General Electric by 10,516.0% during the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 2,629 shares in the last quarter. Manchester Financial Inc. purchased a new position in shares of General Electric during the 2nd quarter valued at approximately $30,000. Finally, Princeton Global Asset Management LLC increased its holdings in shares of General Electric by 307,700.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock valued at $32,000 after purchasing an additional 3,077 shares in the last quarter. Institutional investors and hedge funds own 59.28% of the company’s stock.
In other General Electric news, Director Thomas W. Horton bought 55,248 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $9.02 per share, with a total value of $498,336.96. Following the purchase, the director now directly owns 55,248 shares in the company, valued at approximately $498,336.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Leslie Seidman bought 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, for a total transaction of $50,700.00. Following the purchase, the director now owns 6,500 shares in the company, valued at $50,700. The disclosure for this purchase can be found here. Insiders purchased a total of 801,068 shares of company stock worth $6,954,745 in the last three months. 1.13% of the stock is owned by corporate insiders.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.05. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The firm had revenue of $28.83 billion for the quarter, compared to analysts’ expectations of $28.83 billion. During the same quarter last year, the company earned $0.19 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Analysts anticipate that General Electric will post 0.6 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be paid a $0.01 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. General Electric’s dividend payout ratio is currently 6.15%.
GE has been the subject of several recent research reports. Morgan Stanley initiated coverage on shares of General Electric in a report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 target price for the company. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Friday, August 16th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of General Electric in a report on Monday, October 7th. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Credit Suisse Group set a $11.00 price target on shares of General Electric and gave the company a “hold” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and a consensus price target of $10.55.
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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