Ladenburg Thalmann Financial Services Inc. reduced its position in General Electric (NYSE:GE) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,686,524 shares of the conglomerate’s stock after selling 91,649 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in General Electric were worth $40,829,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. MPS Loria Financial Planners LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $113,000. Ffcm LLC acquired a new position in shares of General Electric during the 2nd quarter valued at about $114,000. Corbenic Partners LLC increased its holdings in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in shares of General Electric during the 3rd quarter valued at about $164,000. Finally, Moisand Fitzgerald Tamayo LLC acquired a new position in shares of General Electric during the 3rd quarter valued at about $204,000. 56.42% of the stock is currently owned by institutional investors.
Shares of General Electric (NYSE GE) opened at $15.10 on Tuesday. The stock has a market capitalization of $129,717.69, a P/E ratio of 14.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32. General Electric has a fifty-two week low of $13.95 and a fifty-two week high of $30.54.
General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same period last year, the business earned $0.46 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. equities research analysts forecast that General Electric will post 0.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.18%. General Electric’s dividend payout ratio is currently -66.67%.
In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The stock was bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.36% of the stock is currently owned by company insiders.
GE has been the topic of a number of analyst reports. JPMorgan Chase & Co. reissued a “sell” rating and set a $16.00 price objective (down previously from $17.00) on shares of General Electric in a report on Monday, January 8th. Goldman Sachs Group set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Citigroup lowered their price objective on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Morningstar set a $23.50 price objective on General Electric and gave the company a “buy” rating in a report on Tuesday, January 23rd. Finally, Bank of America lowered General Electric from a “buy” rating to a “neutral” rating and set a $17.00 price objective on the stock. in a report on Monday, January 22nd. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.44.
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.
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