Clarkston Capital Partners LLC Has $43.46 Million Stake in General Electric (GE)

Clarkston Capital Partners LLC grew its position in General Electric (NYSE:GE) by 13.9% during the third quarter, HoldingsChannel reports. The firm owned 1,797,491 shares of the conglomerate’s stock after acquiring an additional 219,739 shares during the period. General Electric accounts for approximately 1.8% of Clarkston Capital Partners LLC’s holdings, making the stock its 22nd largest position. Clarkston Capital Partners LLC’s holdings in General Electric were worth $43,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MPS Loria Financial Planners LLC acquired a new position in General Electric in the second quarter valued at $113,000. Ffcm LLC acquired a new position in General Electric in the second quarter valued at $114,000. Corbenic Partners LLC increased its stake in General Electric by 15.7% in the second 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 position in General Electric in the third quarter valued at $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in General Electric in the second quarter valued at $209,000. Institutional investors and hedge funds own 55.63% of the company’s stock.

A number of research firms have commented on GE. JPMorgan Chase & Co. set a $22.00 price objective on shares of General Electric and gave the company a “sell” rating in a research note on Tuesday, September 19th. Citigroup set a $28.00 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Vetr lowered shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a research note on Wednesday. Finally, Royal Bank of Canada lowered shares of General Electric from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.19.

In related news, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at $100,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John Leonard Flannery acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now 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. In the last three months, insiders have purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by insiders.

Shares of General Electric (GE) opened at $18.76 on Friday. The company has a market cap of $162,690.00, a PE ratio of 21.81, a P/E/G ratio of 2.05 and a beta of 1.07. General Electric has a fifty-two week low of $17.25 and a fifty-two week high of $31.47. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. analysts forecast that General Electric will post 1.07 EPS for the current year.

The business 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 dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 55.81%.

COPYRIGHT VIOLATION WARNING: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.com-unik.info/2018/01/13/clarkston-capital-partners-llc-has-43-46-million-stake-in-general-electric-ge.html.

General Electric Profile

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

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

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit