Princeton Capital Management Inc. Reduces Position in General Electric Company (GE)

Princeton Capital Management Inc. lowered its stake in shares of General Electric Company (NYSE:GE) by 28.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,729 shares of the conglomerate’s stock after selling 52,615 shares during the quarter. General Electric comprises approximately 2.3% of Princeton Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Princeton Capital Management Inc.’s holdings in General Electric were worth $3,612,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Harris Associates L P boosted its holdings in shares of General Electric by 26.4% in the 1st quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after purchasing an additional 9,681,420 shares in the last quarter. UBS Oconnor LLC lifted its stake in shares of General Electric by 795.5% in the 1st quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after acquiring an additional 1,798,877 shares during the last quarter. Nationwide Fund Advisors lifted its stake in shares of General Electric by 41.6% in the 1st quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after acquiring an additional 1,591,790 shares during the last quarter. Candriam Luxembourg S.C.A. raised its position in General Electric by 134.7% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock worth $64,118,000 after purchasing an additional 1,234,776 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in General Electric by 17.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,072,829 shares of the conglomerate’s stock worth $218,059,000 after purchasing an additional 1,222,434 shares during the last quarter. 54.29% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on GE. Morgan Stanley reaffirmed an “equal weight” rating and set a $27.00 target price on shares of General Electric in a research report on Monday, July 17th. J P Morgan Chase & Co set a $22.00 target price on General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc. set a $28.00 target price on General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS AG lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Finally, Stifel Nicolaus lowered General Electric from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $22.00 in a research report on Tuesday, October 24th. Six investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $25.55.

General Electric Company (GE) traded down $0.75 during trading hours on Monday, hitting $19.74. 50,767,878 shares of the company were exchanged, compared to its average volume of 41,251,555. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric Company has a 52 week low of $19.63 and a 52 week high of $32.38. The company has a market cap of $177,690.00, a PE ratio of 16.53, a PEG ratio of 2.15 and a beta of 1.11.

General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. sell-side analysts anticipate that General Electric Company will post 1.06 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.86%. General Electric’s dividend payout ratio (DPR) is currently 111.63%.

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In related news, Director James S. Tisch bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.36% of the stock is owned by insiders.

General Electric Company Profile

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

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