General Electric (GE) Stake Lowered by Ingalls & Snyder LLC

Ingalls & Snyder LLC lessened its position in General Electric (NYSE:GE) by 43.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 679,506 shares of the conglomerate’s stock after selling 515,039 shares during the period. Ingalls & Snyder LLC’s holdings in General Electric were worth $11,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ffcm LLC purchased a new position in shares of General Electric in the 2nd quarter valued at about $114,000. MPS Loria Financial Planners LLC purchased a new position in General Electric during the 2nd quarter valued at about $113,000. Corbenic Partners LLC increased its holdings in General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in General Electric during the 3rd quarter valued at about $164,000. Finally, Ashford Capital Management Inc. purchased a new position in General Electric during the 2nd quarter valued at about $227,000. Institutional investors own 56.30% of the company’s stock.

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Shares of NYSE GE opened at $13.06 on Friday. The stock has a market cap of $115,304.61, a PE ratio of 12.44, a PEG ratio of 2.58 and a beta of 1.02. General Electric has a 12 month low of $12.73 and a 12 month high of $30.54. 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 (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.46 earnings per share. research analysts predict that General Electric will post 0.96 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.68%. General Electric’s dividend payout ratio (DPR) is presently 45.71%.

In other news, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction dated 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 completion of the acquisition, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.12% of the company’s stock.

Several research firms have weighed in on GE. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Royal Bank of Canada restated a “hold” rating and set a $15.00 target price on shares of General Electric in a report on Thursday. DZ Bank restated a “sell” rating on shares of General Electric in a report on Tuesday. Stifel Nicolaus dropped their target price on shares of General Electric from $15.00 to $13.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a report on Wednesday, January 10th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $18.09.

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About General Electric

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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