Haverford Trust Co. reduced its stake in General Electric (NYSE:GE) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,018 shares of the conglomerate’s stock after selling 7,380 shares during the quarter. Haverford Trust Co.’s holdings in General Electric were worth $349,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ashburton Jersey Ltd acquired a new position in shares of General Electric during the 2nd quarter worth about $25,000. Fusion Family Wealth LLC increased its stake in shares of General Electric by 10,516.0% during the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 2,629 shares during the last quarter. Employers Holdings Inc. acquired a new position in shares of General Electric during the 2nd quarter worth about $28,000. Venturi Wealth Management LLC acquired a new position in shares of General Electric during the 3rd quarter worth about $25,000. Finally, Manchester Financial Inc. acquired a new position in shares of General Electric during the 2nd quarter worth about $30,000. 58.97% of the stock is currently owned by institutional investors and hedge funds.
In other General Electric news, Director Thomas W. Horton bought 55,248 shares of the firm’s 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 in the company, valued at approximately $498,336.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Leslie Seidman bought 6,500 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $7.80 per share, for a total transaction of $50,700.00. Following the transaction, the director now owns 6,500 shares in the company, valued at $50,700. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 801,068 shares of company stock worth $6,954,745. Company insiders own 1.13% of the company’s stock.
General Electric (NYSE:GE) last announced its earnings results 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 negative net margin of 4.39% and a positive return on equity of 11.69%. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue was down .1% compared to the same quarter last year. On average, sell-side analysts expect that General Electric will post 0.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Monday, September 16th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s payout ratio is presently 6.15%.
A number of research analysts recently commented on the stock. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Friday, August 16th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target on the stock in a research note on Friday, November 1st. Morgan Stanley assumed coverage on shares of General Electric in a research note on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price target on the stock. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Barclays reiterated a “buy” rating and issued a $12.00 price target on shares of General Electric in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $10.41.
General Electric 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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