General Electric (NYSE:GE) Holdings Lowered by Stonehearth Capital Management LLC

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Stonehearth Capital Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,635 shares of the conglomerate’s stock after selling 12,888 shares during the quarter. General Electric comprises 0.5% of Stonehearth Capital Management LLC’s holdings, making the stock its 25th biggest position. Stonehearth Capital Management LLC’s holdings in General Electric were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the business. Cornell Pochily Investment Advisors Inc. raised its holdings in shares of General Electric by 114.2% in the 4th quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock worth $246,000 after purchasing an additional 17,317 shares in the last quarter. Financial Counselors Inc. raised its holdings in shares of General Electric by 34.1% during the fourth quarter. Financial Counselors Inc. now owns 505,364 shares of the conglomerate’s stock valued at $3,826,000 after acquiring an additional 128,550 shares during the period. Mn Services Vermogensbeheer B.V. raised its holdings in shares of General Electric by 6.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,474,509 shares of the conglomerate’s stock valued at $9,764,000 after acquiring an additional 88,000 shares during the period. GYL Financial Synergies LLC acquired a new stake in shares of General Electric during the fourth quarter valued at approximately $238,000. Finally, Carroll Financial Associates Inc. raised its holdings in shares of General Electric by 13.5% during the second quarter. Carroll Financial Associates Inc. now owns 117,920 shares of the conglomerate’s stock valued at $1,238,000 after acquiring an additional 14,033 shares during the period. Institutional investors own 57.85% of the company’s stock.

A number of equities research analysts have recently issued reports on GE shares. Cowen restated a “hold” rating and set a $103.00 price target on shares of United Therapeutics in a report on Wednesday, May 1st. Deutsche Bank lowered shares of Cogent Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. Zacks Investment Research lowered shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Bayerische Motoren Werke and gave the company a “sell” rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.62.

In related news, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $9.53, for a total transaction of $32,119,092.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by insiders.

GE stock opened at $10.68 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. The company has a market capitalization of $92.88 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.42 and a beta of 1.03. General Electric has a 12 month low of $6.66 and a 12 month high of $13.78. The business has a 50 day simple moving average of $10.30.

General Electric (NYSE:GE) last issued its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.05. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business had revenue of $27.29 billion during the quarter, compared to analysts’ expectations of $27.31 billion. During the same period in the previous year, the company earned $0.16 earnings per share. General Electric’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 0.61 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Monday, July 1st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Friday, June 28th. General Electric’s payout ratio is 6.15%.

General Electric Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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