Mechanics Bank Trust Department reduced its holdings in General Electric (NYSE:GE) by 2.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,961 shares of the conglomerate’s stock after selling 3,175 shares during the quarter. Mechanics Bank Trust Department owned approximately 0.19% of General Electric worth $3,142,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Vicus Capital increased its stake in General Electric by 35.4% during the third quarter. Vicus Capital now owns 134,828 shares of the conglomerate’s stock worth $3,260,000 after acquiring an additional 35,220 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in General Electric during the third quarter worth about $10,664,000. SPC Financial Inc. increased its stake in General Electric by 8.4% during the third quarter. SPC Financial Inc. now owns 45,704 shares of the conglomerate’s stock worth $1,105,000 after acquiring an additional 3,550 shares during the last quarter. Callahan Advisors LLC increased its stake in General Electric by 3.0% during the third quarter. Callahan Advisors LLC now owns 359,204 shares of the conglomerate’s stock worth $8,686,000 after acquiring an additional 10,457 shares during the last quarter. Finally, Independence Trust CO increased its stake in General Electric by 6.3% during the third quarter. Independence Trust CO now owns 100,872 shares of the conglomerate’s stock worth $2,439,000 after acquiring an additional 5,935 shares during the last quarter. Hedge funds and other institutional investors own 55.63% of the company’s stock.
Several brokerages have commented on GE. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a research note on Monday, September 25th. Cowen restated a “hold” rating and set a $19.00 price target on shares of General Electric in a research note on Wednesday, November 8th. Deutsche Bank set a $21.00 price target on General Electric and gave the stock a “sell” rating in a research note on Monday, October 23rd. Tigress Financial restated a “hold” rating on shares of General Electric in a research note on Thursday, December 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a research note on Thursday, September 21st. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average target price of $23.33.
Shares of General Electric (GE) opened at $18.28 on Tuesday. 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 12 month low of $17.25 and a 12 month high of $31.77. The stock has a market capitalization of $158,530.00, a PE ratio of 21.26, a PEG ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the business posted $0.32 EPS. General Electric’s quarterly revenue was up 11.5% compared to the same quarter last year. analysts expect that General Electric will post 1.07 EPS for the current year.
The business 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 $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.63%. General Electric’s dividend payout ratio (DPR) is currently 55.81%.
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