Narwhal Capital Management reduced its stake in General Electric (NYSE:GE) by 13.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,510 shares of the conglomerate’s stock after selling 35,732 shares during the period. General Electric accounts for 1.4% of Narwhal Capital Management’s holdings, making the stock its 14th biggest holding. Narwhal Capital Management’s holdings in General Electric were worth $5,574,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Exane Derivatives increased its position in shares of General Electric by 9.1% during the first quarter. Exane Derivatives now owns 47,540 shares of the conglomerate’s stock worth $1,416,000 after acquiring an additional 3,960 shares in the last quarter. Brookstone Capital Management increased its position in shares of General Electric by 14.4% during the first quarter. Brookstone Capital Management now owns 272,855 shares of the conglomerate’s stock worth $8,131,000 after acquiring an additional 34,258 shares in the last quarter. Millie Capital Management LLC increased its position in shares of General Electric by 5.5% during the first quarter. Millie Capital Management LLC now owns 45,574 shares of the conglomerate’s stock worth $1,358,000 after acquiring an additional 2,390 shares in the last quarter. Usca Ria LLC increased its position in shares of General Electric by 21.7% during the first quarter. Usca Ria LLC now owns 178,149 shares of the conglomerate’s stock worth $5,309,000 after acquiring an additional 31,819 shares in the last quarter. Finally, Willingdon Wealth Management boosted its holdings in General Electric by 10.2% during the first quarter. Willingdon Wealth Management now owns 76,833 shares of the conglomerate’s stock worth $2,290,000 after purchasing an additional 7,125 shares during the last quarter. 55.61% of the stock is owned by hedge funds and other institutional investors.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 120,500 shares of company stock worth $2,183,220. Insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the 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 the consensus estimate of $32.51 billion. During the same period last year, the firm earned $0.32 EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. sell-side analysts expect that General Electric will post 1.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is currently 120.00%.
Several research analysts recently weighed in on the stock. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target on the stock. in a report on Monday, October 23rd. Stifel Nicolaus cut shares of General Electric from a “buy” rating to a “hold” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $21.74 price target on the stock in a report on Monday, October 23rd. Finally, Argus cut their price target on shares of General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. General Electric currently has an average rating of “Hold” and a consensus price target of $23.39.
General Electric Company Profile
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