General Electric Company (GE) Stake Lowered by United Asset Strategies Inc.

United Asset Strategies Inc. trimmed its position in shares of General Electric Company (NYSE:GE) by 10.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,950 shares of the conglomerate’s stock after selling 25,228 shares during the period. General Electric comprises 1.8% of United Asset Strategies Inc.’s portfolio, making the stock its 14th largest position. United Asset Strategies Inc.’s holdings in General Electric were worth $6,157,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of General Electric by 22.9% during the second quarter. Advisors Asset Management Inc. now owns 823,672 shares of the conglomerate’s stock valued at $22,247,000 after acquiring an additional 153,490 shares during the last quarter. Signature Financial Management Inc. raised its stake in shares of General Electric by 23.8% during the second quarter. Signature Financial Management Inc. now owns 43,584 shares of the conglomerate’s stock valued at $1,178,000 after acquiring an additional 8,368 shares during the last quarter. Convergence Investment Partners LLC raised its stake in shares of General Electric by 4.6% during the second quarter. Convergence Investment Partners LLC now owns 100,371 shares of the conglomerate’s stock valued at $2,711,000 after acquiring an additional 4,455 shares during the last quarter. Westchester Capital Management Inc. raised its stake in shares of General Electric by 2.4% during the second quarter. Westchester Capital Management Inc. now owns 320,923 shares of the conglomerate’s stock valued at $8,668,000 after acquiring an additional 7,673 shares during the last quarter. Finally, 440 Investment Group LLC raised its stake in shares of General Electric by 118.0% during the second quarter. 440 Investment Group LLC now owns 49,260 shares of the conglomerate’s stock valued at $1,331,000 after acquiring an additional 26,660 shares during the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.

Shares of General Electric Company (NYSE GE) opened at $18.21 on Friday. General Electric Company has a fifty-two week low of $17.46 and a fifty-two week 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. The company has a market cap of $157,918.66, a P/E ratio of 14.69, a PEG ratio of 1.98 and a beta of 1.11.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the previous year, the company earned $0.32 EPS. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts forecast that General Electric Company will post 1.06 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 5.27%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s dividend payout ratio is currently 120.00%.

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Several equities analysts have recently commented on GE shares. Argus lowered their price objective on shares of General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, September 18th. Royal Bank Of Canada reissued a “buy” rating and issued a $31.00 price target on shares of General Electric in a research note on Friday, September 15th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a research note on Wednesday, September 13th. UBS AG reissued a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Finally, Stifel Nicolaus decreased their price target on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, July 25th. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.84.

In related news, Chairman John Leonard Flannery bought 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were bought at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the acquisition, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James S. Tisch bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average price of $24.56 per share, for a total transaction of $2,456,000.00. The disclosure for this purchase can be found here. Insiders purchased 165,500 shares of company stock worth $3,652,520 in the last 90 days. 0.36% of the stock is currently owned by corporate insiders.

General Electric Profile

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

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