Mathes Company Inc. Purchases 2,250 Shares of General Electric (NYSE:GE)

Mathes Company Inc. grew its position in General Electric (NYSE:GE) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 60,450 shares of the conglomerate’s stock after acquiring an additional 2,250 shares during the quarter. Mathes Company Inc.’s holdings in General Electric were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Windsor Group LTD boosted its holdings in General Electric by 196.7% during the 3rd quarter. Windsor Group LTD now owns 75,205 shares of the conglomerate’s stock valued at $640,000 after acquiring an additional 49,855 shares during the period. Whittier Trust Co. boosted its holdings in General Electric by 12.2% during the 3rd quarter. Whittier Trust Co. now owns 139,118 shares of the conglomerate’s stock valued at $1,243,000 after acquiring an additional 15,181 shares during the period. Iowa State Bank boosted its holdings in General Electric by 71.8% during the 3rd quarter. Iowa State Bank now owns 59,817 shares of the conglomerate’s stock valued at $535,000 after acquiring an additional 25,000 shares during the period. Mechanics Bank Trust Department boosted its holdings in General Electric by 26.4% during the 3rd quarter. Mechanics Bank Trust Department now owns 40,513 shares of the conglomerate’s stock valued at $362,000 after acquiring an additional 8,450 shares during the period. Finally, Alpha Cubed Investments LLC boosted its holdings in General Electric by 3.1% during the 3rd quarter. Alpha Cubed Investments LLC now owns 43,185 shares of the conglomerate’s stock valued at $386,000 after acquiring an additional 1,297 shares during the period. 59.28% of the stock is currently owned by institutional investors and hedge funds.

In other General Electric news, Director Leslie Seidman bought 6,500 shares of General Electric stock in a transaction that occurred on Friday, August 23rd. The shares were bought 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 of the company’s stock, valued at approximately $50,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas W. Horton bought 55,248 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $9.02 per share, for a total transaction of $498,336.96. Following the completion of the transaction, the director now directly owns 55,248 shares in the company, valued at $498,336.96. The disclosure for this purchase can be found here. Over the last three months, insiders bought 801,068 shares of company stock valued at $6,954,745. Corporate insiders own 1.13% of the company’s stock.

A number of research firms recently issued reports on GE. JPMorgan Chase & Co. restated a “sell” rating on shares of General Electric in a report on Monday, October 7th. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group cut General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $13.00 to $11.50 in a report on Monday, July 15th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Finally, Barclays reaffirmed a “buy” rating and set a $12.00 target price on shares of General Electric in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. General Electric presently has an average rating of “Hold” and an average target price of $10.55.

NYSE GE traded down $0.13 on Monday, reaching $8.83. 1,446,859 shares of the stock traded hands, compared to its average volume of 44,422,348. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73. The company has a fifty day moving average price of $8.86 and a 200-day moving average price of $9.55. The company has a market cap of $78.23 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 2.07 and a beta of 1.11. General Electric has a 12 month low of $6.66 and a 12 month high of $12.81.

General Electric (NYSE:GE) last issued its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.05. The business had revenue of $28.83 billion during the quarter, compared to analyst estimates of $28.83 billion. General Electric had a positive return on equity of 10.64% and a negative net margin of 15.38%. General Electric’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 EPS. As a group, research analysts anticipate that General Electric will post 0.6 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 16th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s payout ratio is 6.15%.

General Electric 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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