Loudon Investment Management LLC reduced its holdings in General Electric (NYSE:GE) by 74.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,974 shares of the conglomerate’s stock after selling 58,348 shares during the quarter. Loudon Investment Management LLC’s holdings in General Electric were worth $151,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of General Electric by 250.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 2,500 shares during the last quarter. Mackey Komara & Dankovich LLC acquired a new stake in shares of General Electric in the fourth quarter worth approximately $27,000. Edge Wealth Management LLC boosted its stake in shares of General Electric by 47.4% in the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 1,300 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of General Electric in the fourth quarter worth approximately $41,000. Finally, NuWave Investment Management LLC boosted its stake in shares of General Electric by 170.3% in the fourth quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock worth $46,000 after acquiring an additional 3,790 shares during the last quarter. 57.75% of the stock is currently owned by institutional investors.
In other General Electric news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the sale, the insider now owns 265,986 shares in the company, valued at $2,641,240.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is owned by insiders.
General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The business had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. On average, research analysts predict that General Electric will post 0.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.44%. General Electric’s dividend payout ratio is currently 6.15%.
A number of brokerages have recently issued reports on GE. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. downgraded General Electric from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $6.00 to $5.00 in a research report on Monday, April 8th. Royal Bank of Canada set a $12.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Tuesday, March 12th. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $11.00 price objective on shares of General Electric in a research report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus price target of $12.39.
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.
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