North Star Asset Management Inc. lifted its position in General Electric (NYSE:GE) by 4.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,106 shares of the conglomerate’s stock after acquiring an additional 13,399 shares during the period. North Star Asset Management Inc. owned 0.47% of General Electric worth $9,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Ffcm LLC acquired a new stake in shares of General Electric in the second quarter worth approximately $114,000. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric in the second quarter worth approximately $113,000. Corbenic Partners LLC boosted its stake in shares of General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares during the last quarter. Bristlecone Advisors LLC acquired a new stake in shares of General Electric in the third quarter worth approximately $164,000. Finally, Flaharty Asset Management LLC acquired a new position in General Electric during the first quarter worth $226,000. 55.62% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric (NYSE GE) opened at $18.15 on Thursday. General Electric has a 1 year low of $17.25 and a 1 year high of $31.83. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $157,400.00, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.99 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.64%. General Electric’s dividend payout ratio is currently 55.81%.
A number of research firms have weighed in on GE. Tigress Financial reissued a “hold” rating on shares of General Electric in a research note on Thursday, December 28th. Stifel Nicolaus set a $18.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Monday, December 11th. Goldman Sachs Group set a $19.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Thursday, November 30th. Deutsche Bank lowered their price objective on General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Finally, JPMorgan Chase & Co. set a $17.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Wednesday, November 15th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. General Electric has an average rating of “Hold” and a consensus price target of $23.39.
In other General Electric news, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction on Monday, November 20th. The shares were bought at an average price of $17.94 per share, for a total transaction of $986,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman John Leonard Flannery bought 60,000 shares of General Electric stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders acquired 120,500 shares of company stock worth $2,183,220 in the last 90 days. Company insiders own 0.36% of the company’s stock.
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