Lyell Wealth Management LP Sells 20,548 Shares of General Electric (GE)

Lyell Wealth Management LP lowered its stake in shares of General Electric (NYSE:GE) by 26.4% in the third quarter, Holdings Channel reports. The institutional investor owned 57,370 shares of the conglomerate’s stock after selling 20,548 shares during the period. Lyell Wealth Management LP’s holdings in General Electric were worth $1,401,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Palisade Asset Management LLC raised its stake in shares of General Electric by 1.3% during the 3rd quarter. Palisade Asset Management LLC now owns 390,486 shares of the conglomerate’s stock valued at $9,442,000 after buying an additional 5,082 shares during the last quarter. Murphy Pohlad Asset Management LLC grew its position in shares of General Electric by 11.6% during the 3rd quarter. Murphy Pohlad Asset Management LLC now owns 151,943 shares of the conglomerate’s stock valued at $3,673,000 after acquiring an additional 15,801 shares during the period. FinTrust Investment Advisory Services LLC acquired a new stake in shares of General Electric during the 3rd quarter valued at about $649,000. Pictet Asset Management Ltd. grew its position in shares of General Electric by 10.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 5,342,566 shares of the conglomerate’s stock valued at $129,183,000 after acquiring an additional 500,537 shares during the period. Finally, Fort Pitt Capital Group LLC grew its position in shares of General Electric by 19.4% during the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,389,073 shares of the conglomerate’s stock valued at $33,588,000 after acquiring an additional 225,280 shares during the period. Institutional investors and hedge funds own 55.63% of the company’s stock.

Shares of General Electric (NYSE:GE) opened at $18.54 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric has a twelve month low of $17.25 and a twelve month high of $31.77. The stock has a market capitalization of $160,780.47, a PE ratio of 23.18, a P/E/G 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 Thomson Reuters’ 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 firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s payout ratio is 60.00%.

In other General Electric news, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was acquired 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 in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on GE shares. Deutsche Bank restated a “sell” rating and set a $21.00 target price (down from $24.00) on shares of General Electric in a research report on Monday, September 11th. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price on the stock. in a research report on Wednesday, September 13th. Royal Bank of Canada restated a “buy” rating and set a $31.00 target price on shares of General Electric in a research report on Friday, September 15th. Argus dropped their target price on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Monday, September 18th. Finally, JPMorgan Chase & Co. set a $22.00 target price on General Electric and gave the company a “sell” rating in a research report on Tuesday, September 19th. Six analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.39.

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

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