General Electric Company (GE) Shares Sold by Granite Investment Partners LLC
Granite Investment Partners LLC cut its holdings in General Electric Company (NYSE:GE) by 11.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 142,125 shares of the conglomerate’s stock after selling 18,586 shares during the quarter. Granite Investment Partners LLC’s holdings in General Electric were worth $3,839,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Ullmann Financial Group Inc. acquired a new position in General Electric during the 1st quarter worth approximately $106,000. PHH Investments Ltd. boosted its position in General Electric by 105.0% during the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 2,000 shares during the last quarter. Barber Financial Group Inc. boosted its position in General Electric by 3.1% during the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock worth $219,000 after acquiring an additional 220 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in General Electric during the 1st quarter worth approximately $226,000. Finally, Oakmont Partners LLC boosted its position in General Electric by 3.6% during the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 54.29% of the company’s stock.
Shares of General Electric Company (GE) opened at $19.02 on Tuesday. The stock has a market capitalization of $177,777.73, a price-to-earnings ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11. General Electric Company has a 1-year low of $18.75 and a 1-year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last released its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. research analysts anticipate that General Electric Company will post 1.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 120.00%.
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In related news, Director James S. Tisch bought 100,000 shares of General Electric stock in a transaction dated Tuesday, August 22nd. The shares were bought at an average cost of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
A number of equities research analysts have recently issued reports on GE shares. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and set a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research note on Tuesday, October 24th. Credit Suisse Group reiterated an “outperform” rating and set a $33.00 price objective on shares of General Electric in a research note on Saturday, July 22nd. Finally, Cowen and Company reiterated a “hold” rating and set a $27.00 price objective on shares of General Electric in a research note on Monday, July 17th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.55.
General Electric Company Profile
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