General Electric (GE) Shares Sold by Ronna Sue Cohen

Ronna Sue Cohen reduced its stake in shares of General Electric (NYSE:GE) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 123,658 shares of the conglomerate’s stock after selling 23,973 shares during the period. Ronna Sue Cohen’s holdings in General Electric were worth $1,396,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Fusion Family Wealth LLC raised its holdings in shares of General Electric by 153.3% in the second quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after purchasing an additional 5,002 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of General Electric in the first quarter valued at approximately $116,000. Beech Hill Advisors Inc. acquired a new stake in shares of General Electric in the third quarter valued at approximately $119,000. Archford Capital Strategies LLC acquired a new stake in shares of General Electric in the first quarter valued at approximately $121,000. Finally, Portfolio Solutions LLC acquired a new stake in shares of General Electric in the third quarter valued at approximately $133,000. Hedge funds and other institutional investors own 54.48% of the company’s stock.

NYSE:GE opened at $7.01 on Friday. General Electric has a 1-year low of $6.99 and a 1-year high of $19.39. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.36. The firm has a market capitalization of $63.82 billion, a P/E ratio of 6.68, a PEG ratio of 2.09 and a beta of 0.88.

General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The firm had revenue of $29.57 billion during the quarter, compared to the consensus estimate of $30.08 billion. During the same period in the prior year, the business posted $0.29 earnings per share. General Electric’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Electric will post 0.67 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.57%. General Electric’s dividend payout ratio (DPR) is 45.71%.

In related news, SVP Alexander Dimitrief acquired 10,000 shares of General Electric stock in a transaction on Tuesday, November 6th. The stock was purchased at an average cost of $9.48 per share, with a total value of $94,800.00. Following the completion of the transaction, the senior vice president now directly owns 103,075 shares in the company, valued at approximately $977,151. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of General Electric stock in a transaction on Thursday, November 1st. The shares were bought at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 295,000 shares of company stock valued at $2,783,250. Company insiders own 1.12% of the company’s stock.

A number of research firms have recently issued reports on GE. Gordon Haskett began coverage on shares of General Electric in a report on Friday, October 12th. They issued a “sell” rating on the stock. Royal Bank of Canada lowered their price objective on shares of General Electric to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 28th. Oppenheimer reiterated a “neutral” rating on shares of General Electric in a report on Tuesday, October 2nd. Citigroup set a $21.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Monday, October 1st. Finally, Goldman Sachs Group set a $14.00 price objective on shares of General Electric and gave the company a “neutral” rating in a report on Tuesday, October 30th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.86.

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General Electric Company Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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

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