D. Scott Neal Inc. lowered its position in General Electric (NYSE:GE) by 54.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,502 shares of the conglomerate’s stock after selling 9,132 shares during the quarter. D. Scott Neal Inc.’s holdings in General Electric were worth $181,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of GE. Exane Derivatives increased its holdings in General Electric by 31.2% during the 3rd quarter. Exane Derivatives now owns 38,507 shares of the conglomerate’s stock worth $931,000 after purchasing an additional 9,168 shares during the last quarter. FormulaFolio Investments LLC boosted its position in General Electric by 100.9% during the 3rd quarter. FormulaFolio Investments LLC now owns 32,837 shares of the conglomerate’s stock valued at $794,000 after purchasing an additional 16,490 shares during the period. Hermes Investment Management Ltd. boosted its position in General Electric by 23.6% during the 3rd quarter. Hermes Investment Management Ltd. now owns 2,546,709 shares of the conglomerate’s stock valued at $61,579,000 after purchasing an additional 485,747 shares during the period. Lincoln Capital Corp boosted its position in General Electric by 4.7% during the 3rd quarter. Lincoln Capital Corp now owns 190,001 shares of the conglomerate’s stock valued at $4,594,000 after purchasing an additional 8,478 shares during the period. Finally, Monarch Capital Management Inc. boosted its position in General Electric by 8.3% during the 3rd quarter. Monarch Capital Management Inc. now owns 180,190 shares of the conglomerate’s stock worth $4,357,000 after acquiring an additional 13,743 shares during the period. Hedge funds and other institutional investors own 55.61% of the company’s stock.
Several analysts have recently weighed in on GE shares. J P Morgan Chase & Co restated an “underweight” rating and issued a $22.00 price objective on shares of General Electric in a report on Thursday, September 7th. Deutsche Bank reissued a “sell” rating and set a $21.00 price target (down from $24.00) on shares of General Electric in a research report on Monday, September 11th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. Royal Bank of Canada reiterated a “buy” rating and set a $31.00 price target on shares of General Electric in a research note on Friday, September 15th. Finally, Argus decreased their price target 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $23.39.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities analysts anticipate that General Electric will post 1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.75%. General Electric’s dividend payout ratio is 120.00%.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock valued at $2,183,220 over the last ninety days. Insiders own 0.36% of the company’s stock.
About General Electric
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