Strs Ohio Cuts Stake in General Electric (GE)

Strs Ohio decreased its stake in shares of General Electric (NYSE:GE) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,426,445 shares of the conglomerate’s stock after selling 85,512 shares during the period. General Electric makes up 0.7% of Strs Ohio’s investment portfolio, making the stock its 23rd largest holding. Strs Ohio owned approximately 9.45% of General Electric worth $155,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MPS Loria Financial Planners LLC purchased a new position in General Electric during the 2nd quarter valued at about $113,000. Ffcm LLC purchased a new position in General Electric in the second quarter worth about $114,000. Corbenic Partners LLC raised its holdings in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in General Electric in the third quarter worth about $164,000. Finally, Tuttle Tactical Management LLC purchased a new position in General Electric in the second quarter worth about $209,000. 55.62% of the stock is owned by institutional investors.

Several brokerages have issued reports on GE. Vetr cut shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a report on Monday, September 25th. Cowen reaffirmed a “hold” rating and issued a $19.00 target price on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 target price on shares of General Electric and gave the stock a “sell” rating in a report on Monday, October 23rd. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Finally, Goldman Sachs Group set a $23.00 target price on shares of General Electric and gave the stock a “hold” rating in a report on Tuesday, October 17th. 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 given a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average price target of $23.39.

In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now directly 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 have purchased 120,500 shares of company stock valued at $2,183,220 over the last 90 days. 0.36% of the stock is currently owned by company insiders.

Shares of General Electric (NYSE:GE) opened at $17.38 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The stock has a market cap of $150,720.00, a P/E ratio of 20.21, a P/E/G ratio of 1.90 and a beta of 1.06. General Electric has a 12-month low of $17.31 and a 12-month high of $31.97.

General Electric (NYSE:GE) last announced its 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). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 earnings per share. equities analysts predict that General Electric will post 1.07 EPS for the current fiscal year.

The firm also recently announced 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 is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.76%. General Electric’s dividend payout ratio (DPR) is 111.63%.

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

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