General Electric (GE) Holdings Cut by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. lowered its holdings in shares of General Electric (NYSE:GE) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,192,107 shares of the conglomerate’s stock after selling 127,742 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in General Electric were worth $53,004,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GE. Peak Financial Management Inc. lifted its position in shares of General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after acquiring an additional 25 shares in the last quarter. Cutter & CO Brokerage Inc. lifted its position in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after acquiring an additional 67 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after acquiring an additional 80 shares in the last quarter. Shapiro Capital Management LLC lifted its position in shares of General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after acquiring an additional 147 shares in the last quarter. Finally, CFO4Life Group LLC lifted its position in shares of General Electric by 0.9% in the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after acquiring an additional 152 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.
Shares of General Electric (NYSE:GE) opened at $14.94 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. The stock has a market capitalization of $129,717.69, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. General Electric has a one year low of $13.95 and a one year high of $30.54.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.21%. General Electric’s dividend payout ratio (DPR) is -66.67%.
Several research firms have recently weighed in on GE. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. UBS Group set a $16.00 target price on General Electric and gave the company a “neutral” rating in a research report on Wednesday. Cowen reiterated a “market perform” rating and set a $15.00 price objective (down previously from $17.00) on shares of General Electric in a research report on Monday, February 26th. Stifel Nicolaus reduced their price objective on General Electric from $18.00 to $17.00 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a research report on Monday, February 26th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.44.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.36% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This story was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this story can be viewed at https://www.thecerbatgem.com/2018/03/11/general-electric-ge-holdings-cut-by-cornerstone-capital-management-holdings-llc.html.
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.
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.