General Electric (GE) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its stake in shares of General Electric (NYSE:GE) by 18.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,276 shares of the conglomerate’s stock after selling 5,143 shares during the quarter. Foster & Motley Inc.’s holdings in General Electric were worth $563,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GE. Franklin Resources Inc. lifted its position in General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. BlackRock Inc. lifted its position in General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital Research Global Investors lifted its position in General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Boston Partners lifted its position in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in General Electric by 1,011.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares during the period. 55.62% of the stock is currently owned by hedge funds and other institutional investors.

In related news, Director Steven M. Mollenkopf purchased 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now directly owns 5,500 shares in the company, valued at $100,320. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Francisco Dsouza purchased 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 120,500 shares of company stock valued at $2,183,220. Insiders own 0.36% of the company’s stock.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. set a $22.00 target price on shares of General Electric and gave the company a “sell” rating in a research report on Tuesday, September 19th. Citigroup set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Royal Bank of Canada downgraded shares of General Electric from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Finally, Deutsche Bank decreased their price objective on shares of General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, November 21st. Six analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $23.39.

General Electric (NYSE:GE) opened at $17.50 on Tuesday. General Electric has a 1 year low of $17.36 and a 1 year high of $32.05. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The firm has a market cap of $151,761.48, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

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 consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’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 business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.74%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.

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

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