General Electric (GE) Shares Sold by IFC Holdings Incorporated FL

IFC Holdings Incorporated FL reduced its position in General Electric (NYSE:GE) by 10.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 94,590 shares of the conglomerate’s stock after selling 10,915 shares during the period. IFC Holdings Incorporated FL’s holdings in General Electric were worth $2,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased 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 worth $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. BlackRock Inc. increased 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 worth $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital Research Global Investors increased 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 worth $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Boston Partners increased 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 worth $384,315,000 after buying an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased 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 worth $395,219,000 after buying an additional 13,315,605 shares in the last quarter. 55.62% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John Leonard Flannery bought 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, 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 bought 120,500 shares of company stock worth $2,183,220 in the last 90 days. Insiders own 0.36% of the company’s stock.

GE has been the subject of several recent research reports. Argus dropped their price target on 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 set a $31.00 price target on shares of General Electric in a research report on Friday, September 15th. Vetr downgraded 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 set a $26.00 price target on shares of General Electric in a research report on Thursday, October 12th. Finally, Bank of America raised 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $23.39.

Shares of General Electric (NYSE:GE) opened at $18.54 on Friday. General Electric has a fifty-two week low of $17.25 and a fifty-two week high of $31.77. 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 capitalization of $160,780.00, a price-to-earnings ratio of 21.56, a PEG ratio of 2.05 and a beta of 1.07.

General Electric (NYSE:GE) last posted its quarterly earnings data 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 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 quarter last year, the business earned $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% compared to the same quarter last year. research analysts expect that General Electric will post 1.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is 55.81%.

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

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