Hemenway Trust Co LLC Decreases Stock Holdings in General Electric (NYSE:GE)

Hemenway Trust Co LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 17.2% in the third quarter, HoldingsChannel.com reports. The fund owned 25,201 shares of the conglomerate’s stock after selling 5,253 shares during the period. Hemenway Trust Co LLC’s holdings in General Electric were worth $225,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GE. Price T Rowe Associates Inc. MD grew its holdings in General Electric by 26.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after purchasing an additional 76,193,032 shares during the period. Nuveen Asset Management LLC bought a new position in General Electric during the second quarter valued at $433,181,000. Renaissance Technologies LLC grew its holdings in General Electric by 254.9% during the second quarter. Renaissance Technologies LLC now owns 53,270,354 shares of the conglomerate’s stock valued at $559,339,000 after purchasing an additional 38,260,700 shares during the period. BlackRock Inc. boosted its holdings in shares of General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after acquiring an additional 9,483,976 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of General Electric by 1.4% in the second quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock worth $6,805,671,000 after acquiring an additional 8,989,832 shares during the period. 58.97% of the stock is owned by institutional investors.

In other news, Director Paula Rosput Reynolds purchased 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were acquired at an average price of $9.05 per share, for a total transaction of $45,250.00. Following the completion of the transaction, the director now directly owns 16,500 shares of the company’s stock, valued at approximately $149,325. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas W. Horton purchased 55,248 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now directly owns 55,248 shares of the company’s stock, valued at $498,336.96. The disclosure for this purchase can be found here. Insiders purchased 801,068 shares of company stock worth $6,954,745 in the last quarter. 1.13% of the stock is currently owned by company insiders.

Shares of GE stock traded up $0.20 on Friday, reaching $11.49. The company’s stock had a trading volume of 48,094,245 shares, compared to its average volume of 60,476,536. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67. General Electric has a 12-month low of $6.66 and a 12-month high of $11.75. The company has a market capitalization of $100.57 billion, a P/E ratio of 17.68, a PEG ratio of 2.46 and a beta of 1.13. The stock’s 50 day simple moving average is $9.21 and its 200-day simple moving average is $9.57.

General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The company had revenue of $23.36 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business posted $0.14 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Research analysts expect that General Electric will post 0.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were given a $0.01 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

GE has been the subject of a number of analyst reports. Credit Suisse Group reaffirmed a “hold” rating and issued a $10.00 price target on shares of General Electric in a report on Monday. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Friday, August 16th. Barclays reaffirmed a “buy” rating and issued a $12.00 price target on shares of General Electric in a report on Friday, October 4th. JPMorgan Chase & Co. set a $5.00 price target on General Electric and gave the stock an “underweight” rating in a report on Friday, November 1st. Finally, ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $10.41.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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