Marcus Capital LLC trimmed its stake in shares of General Electric (NYSE:GE) by 38.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,800 shares of the conglomerate’s stock after selling 28,650 shares during the quarter. General Electric accounts for about 1.6% of Marcus Capital LLC’s holdings, making the stock its 29th largest position. Marcus Capital LLC’s holdings in General Electric were worth $1,132,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. BTR Capital Management Inc. grew its position in General Electric by 32.5% during the second quarter. BTR Capital Management Inc. now owns 263,161 shares of the conglomerate’s stock worth $7,108,000 after buying an additional 64,610 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in General Electric by 503.1% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 1,425,912 shares of the conglomerate’s stock worth $38,514,000 after buying an additional 1,189,475 shares in the last quarter. Eqis Capital Management Inc. grew its position in General Electric by 6.2% during the second quarter. Eqis Capital Management Inc. now owns 22,848 shares of the conglomerate’s stock worth $617,000 after buying an additional 1,336 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its position in General Electric by 34.0% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 82,143 shares of the conglomerate’s stock worth $2,219,000 after buying an additional 20,825 shares in the last quarter. Finally, Portfolio Solutions LLC grew its position in General Electric by 8.7% during the second quarter. Portfolio Solutions LLC now owns 8,218 shares of the conglomerate’s stock worth $222,000 after buying an additional 660 shares in the last quarter. Institutional investors own 55.44% of the company’s stock.
GE has been the subject of a number of research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $26.00 price objective on shares of General Electric in a report on Thursday, October 12th. JPMorgan Chase & Co. cut their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Vertical Research set a $18.00 price objective on General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. UBS Group initiated coverage on General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price objective for the company. Finally, TheStreet cut General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus price target of $21.31.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. equities research analysts forecast that General Electric will post 0.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, December 26th. General Electric’s payout ratio is -66.67%.
In other General Electric news, Chairman John Leonard Flannery purchased 60,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The disclosure for this purchase can be found here. Insiders have acquired a total of 124,370 shares of company stock valued at $2,245,570 in the last ninety days. 0.36% of the stock is currently owned by corporate insiders.
General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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