Arcadia Investment Management Corp MI Decreases Position in General Electric Company (GE)
Arcadia Investment Management Corp MI trimmed its position in General Electric Company (NYSE:GE) by 3.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,003 shares of the conglomerate’s stock after selling 595 shares during the period. Arcadia Investment Management Corp MI’s holdings in General Electric were worth $405,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Ullmann Financial Group Inc. acquired a new position in General Electric in the first quarter valued at approximately $106,000. PHH Investments Ltd. boosted its stake in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the period. Barber Financial Group Inc. boosted its stake in General Electric by 3.1% in the first quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 220 shares during the period. Flaharty Asset Management LLC acquired a new position in General Electric in the first quarter valued at approximately $226,000. Finally, Oakmont Partners LLC boosted its stake in General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 54.75% of the company’s stock.
A number of equities analysts have commented on GE shares. J P Morgan Chase & Co decreased their target price on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Bank of America Corporation upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, October 23rd. Royal Bank Of Canada set a $25.00 target price on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Citigroup Inc. set a $28.00 target price on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar, Inc. restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average price target of $24.49.
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Shares of General Electric Company (GE) opened at $18.15 on Friday. The firm has a market capitalization of $157,398.34, a P/E ratio of 14.64, a PEG ratio of 1.98 and a beta of 1.11. 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 Company has a twelve month low of $17.46 and a twelve month high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. sell-side analysts forecast that General Electric Company will post 1.06 EPS for the current year.
The firm also recently declared 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. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 5.29%. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at approximately $100,320. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman John Leonard Flannery purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.
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