Keating Investment Counselors Inc. lowered its stake in General Electric (NYSE:GE) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 246,823 shares of the conglomerate’s stock after selling 7,316 shares during the quarter. General Electric comprises approximately 2.6% of Keating Investment Counselors Inc.’s holdings, making the stock its 15th largest holding. Keating Investment Counselors Inc.’s holdings in General Electric were worth $5,968,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ffcm LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $114,000. MPS Loria Financial Planners LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $113,000. Corbenic Partners LLC increased its position in shares of General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in shares of General Electric in the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of General Electric in the 2nd quarter valued at $209,000. 55.54% of the stock is currently owned by institutional investors.
In other news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.36% of the company’s stock.
A number of analysts recently commented on GE shares. JPMorgan Chase & Co. restated a “sell” rating and issued a $16.00 price objective (down previously from $17.00) on shares of General Electric in a research report on Monday, January 8th. Goldman Sachs Group set a $22.00 target price on General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Citigroup lowered their target price on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Morningstar set a $23.50 target price on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Finally, Bank of America cut General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price for the company. in a report on Monday, January 22nd. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $18.50.
General Electric (NYSE:GE) opened at $14.64 on Wednesday. The firm has a market capitalization of $125,202.75, a PE ratio of 13.73, a PEG ratio of 2.74 and a beta of 1.00. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32. General Electric has a 1-year low of $13.95 and a 1-year high of $30.54.
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 Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during 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 11.60%. General Electric’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. sell-side analysts expect that General Electric will post 0.99 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.28%. General Electric’s dividend payout ratio (DPR) is currently -66.67%.
General Electric Company 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.