Mitchell Sinkler & Starr PA Grows Position in General Electric (GE)

Mitchell Sinkler & Starr PA boosted its position in shares of General Electric (NYSE:GE) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,250 shares of the conglomerate’s stock after purchasing an additional 2,250 shares during the period. General Electric accounts for approximately 1.7% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 22nd biggest position. Mitchell Sinkler & Starr PA owned about 0.07% of General Electric worth $1,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its position in shares of General Electric by 7.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 616,262 shares of the conglomerate’s stock worth $14,901,000 after buying an additional 45,110 shares during the last quarter. Whittier Trust Co. lifted its position in shares of General Electric by 27.6% in the third quarter. Whittier Trust Co. now owns 1,158,499 shares of the conglomerate’s stock worth $28,012,000 after buying an additional 250,456 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of General Electric by 9.5% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 237,279 shares of the conglomerate’s stock worth $5,737,000 after buying an additional 20,630 shares during the last quarter. Edge Wealth Management LLC lifted its position in shares of General Electric by 28.6% in the third quarter. Edge Wealth Management LLC now owns 519,931 shares of the conglomerate’s stock worth $12,567,000 after buying an additional 115,499 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in shares of General Electric by 0.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 391,871 shares of the conglomerate’s stock worth $9,475,000 after buying an additional 3,518 shares during the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman John Leonard Flannery purchased 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 purchase, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock worth $2,183,220 over the last 90 days. Corporate insiders own 0.36% of the company’s stock.

General Electric (GE) opened at $17.38 on Thursday. General Electric has a 12-month low of $17.31 and a 12-month high of $31.97. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The firm has a market capitalization of $150,720.00, a PE ratio of 20.21, a P/E/G ratio of 1.90 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 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 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 firm posted $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. analysts forecast that General Electric will post 1.07 earnings per share for the current fiscal year.

The firm also recently disclosed 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 2.76%. General Electric’s dividend payout ratio is presently 111.63%.

A number of brokerages have weighed in on GE. Stifel Nicolaus set a $18.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Monday, December 11th. Goldman Sachs Group set a $19.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Thursday, November 30th. Deutsche Bank reduced their price target on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, November 21st. JPMorgan Chase & Co. set a $17.00 price target on General Electric and gave the stock a “sell” rating in a research report on Wednesday, November 15th. Finally, Bank of America reaffirmed a “buy” rating and issued a $23.00 price target (down previously from $27.00) on shares of General Electric in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average target price of $23.39.

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About General Electric

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

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