Tompkins Financial Corp Reduces Stock Position in General Electric (NYSE:GE)

Tompkins Financial Corp trimmed its position in General Electric (NYSE:GE) by 29.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,196 shares of the conglomerate’s stock after selling 12,909 shares during the period. Tompkins Financial Corp’s holdings in General Electric were worth $206,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in General Electric by 19.6% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 31,716 shares of the conglomerate’s stock worth $252,000 after buying an additional 5,200 shares during the last quarter. Contravisory Investment Management Inc. increased its position in General Electric by 1,549.6% during the first quarter. Contravisory Investment Management Inc. now owns 16,496 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 15,496 shares during the last quarter. Tudor Investment Corp Et Al purchased a new position in General Electric during the first quarter worth approximately $502,000. Janney Montgomery Scott LLC boosted its holdings in shares of General Electric by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,123,767 shares of the conglomerate’s stock valued at $8,923,000 after purchasing an additional 99,070 shares during the last quarter. Finally, Mission Wealth Management LP grew its stake in shares of General Electric by 16.3% during the 1st quarter. Mission Wealth Management LP now owns 28,781 shares of the conglomerate’s stock valued at $229,000 after buying an additional 4,028 shares during the period. 61.93% of the stock is currently owned by institutional investors.

GE has been the topic of a number of research analyst reports. TheStreet upgraded General Electric from a “d+” rating to a “c-” rating in a report on Tuesday, June 9th. Credit Suisse Group reduced their price objective on General Electric from $9.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. UBS Group reissued a “buy” rating and set a $7.50 target price on shares of General Electric in a research report on Friday, May 29th. Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating and set a $7.50 price target on the stock. in a research report on Friday, June 12th. Finally, Bank of America reissued a “buy” rating and issued a $11.00 price objective on shares of General Electric in a research report on Monday, June 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $9.02.

Shares of General Electric stock opened at $6.07 on Friday. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26. The company has a market capitalization of $54.76 billion, a PE ratio of -10.47 and a beta of 0.95. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.69. The business has a 50-day moving average of $6.90 and a 200-day moving average of $8.33.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $17.75 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a positive return on equity of 7.94% and a negative net margin of 5.10%. The firm’s quarterly revenue was down 38.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.17 EPS.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Monday, June 29th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, June 26th. General Electric’s dividend payout ratio is presently 6.15%.

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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