Independent Investors Inc. Has $2.57 Million Holdings in General Electric (GE)

Independent Investors Inc. decreased its position in shares of General Electric (NYSE:GE) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,169 shares of the conglomerate’s stock after selling 9,550 shares during the quarter. General Electric comprises approximately 1.1% of Independent Investors Inc.’s investment portfolio, making the stock its 26th largest position. Independent Investors Inc. owned approximately 0.16% of General Electric worth $2,567,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $113,000. Ffcm LLC acquired a new stake in shares of General Electric during the 2nd quarter worth approximately $114,000. Corbenic Partners LLC grew its position in General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new stake in General Electric in the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC acquired a new stake in General Electric in the 2nd quarter valued at $209,000. Hedge funds and other institutional investors own 55.62% of the company’s stock.

Several analysts recently issued reports on GE shares. Argus reduced their price target on shares of General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Monday, September 18th. Royal Bank of Canada reissued a “buy” rating and issued a $31.00 price target on shares of General Electric in a research report on Friday, September 15th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a research report on Wednesday, September 13th. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of General Electric in a research report on Thursday, October 12th. Finally, Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, October 23rd. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. General Electric presently has a consensus rating of “Hold” and a consensus price target of $23.39.

In other General Electric news, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were acquired 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 in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have bought a total of 120,500 shares of company stock worth $2,183,220 over the last quarter. Company insiders own 0.36% of the company’s stock.

General Electric (NYSE GE) opened at $17.45 on Tuesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a 52 week low of $17.25 and a 52 week high of $31.83. The firm has a market capitalization of $151,327.89, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.89 and a beta of 1.07.

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

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 60.00%.

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

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