GFS Advisors LLC reduced its holdings in shares of General Electric (NYSE:GE) by 15.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 812,258 shares of the conglomerate’s stock after selling 146,020 shares during the quarter. General Electric accounts for about 2.0% of GFS Advisors LLC’s investment portfolio, making the stock its 13th largest holding. GFS Advisors LLC’s holdings in General Electric were worth $9,170,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Clarius Group LLC lifted its stake in General Electric by 16.1% in the 2nd quarter. Clarius Group LLC now owns 27,865 shares of the conglomerate’s stock worth $379,000 after purchasing an additional 3,864 shares in the last quarter. Hunter Associates Investment Management LLC lifted its stake in General Electric by 3.7% in the 2nd quarter. Hunter Associates Investment Management LLC now owns 111,177 shares of the conglomerate’s stock worth $1,513,000 after purchasing an additional 3,978 shares in the last quarter. Philadelphia Trust Co. lifted its stake in General Electric by 12.6% in the 2nd quarter. Philadelphia Trust Co. now owns 35,763 shares of the conglomerate’s stock worth $487,000 after purchasing an additional 3,998 shares in the last quarter. Wedbush Securities Inc. lifted its stake in General Electric by 1.5% in the 2nd quarter. Wedbush Securities Inc. now owns 281,643 shares of the conglomerate’s stock worth $3,833,000 after purchasing an additional 4,072 shares in the last quarter. Finally, BHK Investment Advisors LLC lifted its stake in General Electric by 26.0% in the 2nd quarter. BHK Investment Advisors LLC now owns 20,162 shares of the conglomerate’s stock worth $274,000 after purchasing an additional 4,155 shares in the last quarter. Institutional investors own 54.46% of the company’s stock.

GE stock opened at $9.81 on Monday. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.36 and a current ratio of 1.66. General Electric has a 52 week low of $6.66 and a 52 week high of $15.59. The firm has a market cap of $85.18 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 3.06 and a beta of 0.99.

General Electric (NYSE:GE) last released its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.84%. The business had revenue of $33.28 billion for the quarter, compared to the consensus estimate of $32.01 billion. Research analysts expect that General Electric will post 0.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 25th. Investors of record on Thursday, December 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Wednesday, December 19th. General Electric’s dividend payout ratio is currently 6.15%.

In other General Electric news, Director Francisco Dsouza bought 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average price of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 151,500 shares in the company, valued at $1,260,480. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.12% of the stock is currently owned by company insiders.

GE has been the topic of several research reports. JPMorgan Chase & Co. restated a “sell” rating and set a $10.00 price objective on shares of General Electric in a research report on Thursday, October 25th. Royal Bank of Canada restated a “buy” rating and set a $15.00 price objective on shares of General Electric in a research report on Tuesday, October 30th. Goldman Sachs Group set a $14.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, October 30th. Citigroup lowered their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Finally, ValuEngine cut shares of General Electric from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $13.04.

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General Electric Profile

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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