Barber Financial Group Inc. lessened its stake in General Electric (NYSE:GE) by 8.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,152 shares of the conglomerate’s stock after selling 1,209 shares during the period. Barber Financial Group Inc.’s holdings in General Electric were worth $119,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashburton Jersey Ltd bought a new stake in shares of General Electric in the second quarter valued at about $25,000. Venturi Wealth Management LLC bought a new stake in shares of General Electric in the third quarter valued at about $25,000. Employers Holdings Inc. bought a new stake in shares of General Electric in the second quarter valued at about $28,000. Fusion Family Wealth LLC lifted its stake in shares of General Electric by 10,516.0% in the second quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after buying an additional 2,629 shares during the period. Finally, Manchester Financial Inc. bought a new stake in shares of General Electric in the second quarter valued at about $30,000. Institutional investors and hedge funds own 58.97% of the company’s stock.
GE has been the subject of several research reports. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Friday, August 16th. UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Morgan Stanley began coverage on shares of General Electric in a research report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price target for the company. Royal Bank of Canada reissued a “buy” rating and issued a $13.00 price target on shares of General Electric in a research report on Wednesday, October 30th. Finally, Deutsche Bank increased their price target on shares of General Electric from $9.00 to $11.00 in a research report on Thursday, October 31st. 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’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.41.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. On average, research analysts expect that General Electric will post 0.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, September 13th. General Electric’s payout ratio is 6.15%.
In other news, Director Paula Rosput Reynolds acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $9.05 per share, with a total value of $45,250.00. Following the completion of the acquisition, the director now owns 16,500 shares in the company, valued at approximately $149,325. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman H Lawrence Culp, Jr. acquired 331,684 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $9.04 per share, with a total value of $2,998,423.36. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 801,068 shares of company stock valued at $6,954,745. Company insiders own 1.13% of the company’s stock.
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.
Featured Story: What is an investor looking for in an SEC filing?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.