Capital Planning Advisors LLC lowered its holdings in shares of General Electric (NYSE:GE) by 88.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,263 shares of the conglomerate’s stock after selling 94,461 shares during the period. Capital Planning Advisors LLC’s holdings in General Electric were worth $297,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the 2nd quarter valued at $113,000. Ffcm LLC bought a new position in shares of General Electric during the 2nd quarter valued at $114,000. Corbenic Partners LLC grew its holdings in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of General Electric during the 3rd quarter valued at $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of General Electric during the 3rd quarter valued at $204,000. 55.17% of the stock is currently owned by institutional investors.
In related news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. research analysts predict that General Electric will post 0.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.19%. General Electric’s dividend payout ratio is 44.44%.
GE has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their target price on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, November 1st. Vertical Research set a $18.00 price target on shares of General Electric and gave the company a “hold” rating in a research report on Tuesday, January 16th. UBS Group initiated coverage on shares of General Electric in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price target for the company. TheStreet cut shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Finally, Citigroup set a $25.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, November 14th. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average price target of $19.86.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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