Balasa Dinverno & Foltz LLC Lowers Holdings in General Electric (GE)

Balasa Dinverno & Foltz LLC lessened its stake in General Electric (NYSE:GE) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,643 shares of the conglomerate’s stock after selling 3,130 shares during the quarter. General Electric comprises approximately 0.3% of Balasa Dinverno & Foltz LLC’s investment portfolio, making the stock its 25th biggest holding. Balasa Dinverno & Foltz LLC’s holdings in General Electric were worth $2,071,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of GE. Warren Averett Asset Management LLC boosted its stake in General Electric by 7.0% during the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after acquiring an additional 6,799 shares during the last quarter. Sabal Trust CO boosted its stake in General Electric by 5.4% during the 2nd quarter. Sabal Trust CO now owns 1,080,995 shares of the conglomerate’s stock worth $29,198,000 after acquiring an additional 55,049 shares during the last quarter. Rockland Trust Co. boosted its stake in General Electric by 8.6% during the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after acquiring an additional 16,309 shares during the last quarter. Stoneridge Investment Partners LLC boosted its stake in General Electric by 23.4% during the 2nd quarter. Stoneridge Investment Partners LLC now owns 325,787 shares of the conglomerate’s stock worth $8,800,000 after acquiring an additional 61,746 shares during the last quarter. Finally, Rothschild Investment Corp IL boosted its stake in General Electric by 2.4% during the 2nd quarter. Rothschild Investment Corp IL now owns 465,351 shares of the conglomerate’s stock worth $12,569,000 after acquiring an additional 10,906 shares during the last quarter. Hedge funds and other institutional investors own 55.61% of the company’s stock.

GE has been the topic of several recent analyst reports. J P Morgan Chase & Co reduced their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Finally, Citigroup set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. General Electric has an average rating of “Hold” and an average price target of $23.39.

In other news, Director Steven M. Mollenkopf bought 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock worth $2,183,220 over the last quarter. 0.36% of the stock is owned by corporate insiders.

Shares of General Electric (NYSE:GE) opened at $17.47 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a fifty-two week low of $17.36 and a fifty-two week high of $32.05. The stock has a market cap of $151,327.89, a P/E ratio of 14.07, a PEG ratio of 1.89 and a beta of 1.06.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the business earned $0.32 earnings per share. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. sell-side analysts predict that General Electric will post 1.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.75%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.

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About General Electric

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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