Bar Harbor Trust Services raised its position in General Electric (NYSE:GE) by 1,280.9% during the third quarter, Holdings Channel reports. The institutional investor owned 249,399 shares of the conglomerate’s stock after buying an additional 231,339 shares during the quarter. General Electric makes up about 3.2% of Bar Harbor Trust Services’ investment portfolio, making the stock its 14th biggest holding. Bar Harbor Trust Services’ holdings in General Electric were worth $6,030,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. lifted its stake in shares of General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. BlackRock Inc. lifted its stake in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital Research Global Investors lifted its stake in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Boston Partners lifted its stake in shares of General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of General Electric by 1,011.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares during the period. Hedge funds and other institutional investors own 55.17% of the company’s stock.
A number of research analysts have recently weighed in on GE shares. Bank of America reissued a “buy” rating and issued a $23.00 price target (down previously from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research note on Wednesday, January 10th. Finally, TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $18.50.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. 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. Shareholders 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 3.40%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently -160.00%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The stock was purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is currently owned by corporate insiders.
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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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