Leavell Investment Management Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,268 shares of the conglomerate’s stock after selling 3,570 shares during the quarter. Leavell Investment Management Inc. owned approximately 0.10% of General Electric worth $1,602,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Boston Partners lifted its holdings in shares of General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of General Electric by 1,011.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares during the last quarter. 55.62% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on GE. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $22.00 target price on shares of General Electric in a report on Thursday, September 7th. Vetr downgraded General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a report on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $30.00 price objective (down from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Morgan Stanley reduced their price objective on General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, October 2nd. Finally, Argus reduced their price objective on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $23.39.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the company posted $0.32 earnings per share. research analysts anticipate that General Electric will post 1.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is 55.81%.
In other news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 120,500 shares of company stock valued at $2,183,220. Company insiders own 0.36% of the company’s stock.
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