Boston Financial Mangement LLC Has $8.81 Million Holdings in General Electric (GE)
Boston Financial Mangement LLC lessened its position in shares of General Electric (NYSE:GE) by 54.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 364,129 shares of the conglomerate’s stock after selling 437,516 shares during the period. Boston Financial Mangement LLC’s holdings in General Electric were worth $8,805,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after buying an additional 3,297,890 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital World Investors boosted its holdings in shares of General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after buying an additional 11,194,678 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. Institutional investors own 55.64% of the company’s stock.
General Electric (NYSE GE) opened at $18.76 on Tuesday. The company has a market cap of $162,690.00, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a 12-month low of $17.25 and a 12-month high of $31.45.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. sell-side analysts expect that General Electric will post 1.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.56%. General Electric’s payout ratio is currently 55.81%.
Several research analysts have recently issued reports on GE shares. Stifel Nicolaus restated a “buy” rating and issued a $26.00 target price on shares of General Electric in a report on Thursday, October 12th. JPMorgan Chase & Co. lowered their target price on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Vetr upgraded shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 target price for the company in a report on Tuesday, October 10th. Citigroup set a $25.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.25.
In related news, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was acquired at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman John Leonard Flannery purchased 60,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the acquisition, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by insiders.
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