Appleton Partners Inc. MA reduced its stake in shares of General Electric (NYSE:GE) by 46.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,558 shares of the conglomerate’s stock after selling 105,473 shares during the period. Appleton Partners Inc. MA’s holdings in General Electric were worth $2,139,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GE. MPS Loria Financial Planners LLC bought a new position in shares of General Electric in the 2nd quarter worth about $113,000. Ffcm LLC bought a new position in shares of General Electric in the 2nd quarter worth about $114,000. Corbenic Partners LLC lifted 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 worth $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of General Electric in the 3rd quarter worth about $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in shares of General Electric in the 3rd quarter worth about $204,000. 56.28% of the stock is owned by institutional investors.
A number of research analysts have recently issued reports on the stock. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 price target (down from $14.00) on shares of General Electric in a research report on Tuesday, March 13th. Stifel Nicolaus reduced their price target on shares of General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. UBS set a $16.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Wednesday, March 7th. Finally, Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research report on Wednesday, January 10th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.27.
General Electric (NYSE:GE) last issued 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 firm 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%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. equities analysts predict that General Electric will post 0.99 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.67%. General Electric’s dividend payout ratio is presently -66.67%.
In other news, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.12% of the company’s stock.
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About General Electric
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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