Horan Capital Advisors LLC. decreased its holdings in shares of General Electric (NYSE:GE) by 20.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,244 shares of the conglomerate’s stock after selling 5,100 shares during the quarter. Horan Capital Advisors LLC.’s holdings in General Electric were worth $489,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of GE. MPS Loria Financial Planners LLC purchased a new stake in General Electric during the second quarter worth approximately $113,000. Ffcm LLC purchased a new stake in General Electric in the second quarter valued at approximately $114,000. Corbenic Partners LLC lifted 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 buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in General Electric in the third quarter valued at approximately $164,000. Finally, Moisand Fitzgerald Tamayo LLC purchased a new stake in General Electric in the third quarter valued at approximately $204,000. Hedge funds and other institutional investors own 55.54% of the company’s stock.
In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
A number of equities research analysts have weighed in on the company. Cowen reiterated a “hold” rating and issued a $19.00 price objective on shares of General Electric in a research note on Wednesday, November 8th. Goldman Sachs Group set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 7th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $17.00 price objective on shares of General Electric in a research note on Thursday, November 9th. Royal Bank of Canada cut General Electric from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.50.
General Electric (GE) opened at $14.64 on Wednesday. General Electric has a twelve month low of $13.95 and a twelve month high of $30.54. The firm has a market capitalization of $125,202.75, a price-to-earnings ratio of 13.73, a P/E/G ratio of 2.74 and a beta of 1.00. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same period in the prior year, the company earned $0.46 EPS. The company’s revenue was down 5.1% on a year-over-year basis. analysts expect that General Electric will post 0.99 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio is presently -66.67%.
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.