General Electric (GE) Shares Sold by Garrison Bradford & Associates Inc.
Garrison Bradford & Associates Inc. lessened its holdings in General Electric (NYSE:GE) by 24.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,500 shares of the conglomerate’s stock after selling 4,280 shares during the period. Garrison Bradford & Associates Inc.’s holdings in General Electric were worth $102,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Hollencrest Capital Management increased its holdings in shares of General Electric by 4.5% in the third quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock valued at $2,167,000 after purchasing an additional 8,345 shares in the last quarter. Oakbrook Investments LLC grew its holdings in General Electric by 9.5% during the 3rd quarter. Oakbrook Investments LLC now owns 586,476 shares of the conglomerate’s stock worth $6,621,000 after acquiring an additional 51,050 shares during the period. Clarkston Capital Partners LLC grew its holdings in General Electric by 26.8% during the 3rd quarter. Clarkston Capital Partners LLC now owns 4,539,097 shares of the conglomerate’s stock worth $51,246,000 after acquiring an additional 958,943 shares during the period. Seven Eight Capital LP grew its holdings in General Electric by 90.5% during the 3rd quarter. Seven Eight Capital LP now owns 285,031 shares of the conglomerate’s stock worth $3,218,000 after acquiring an additional 135,400 shares during the period. Finally, Legacy Advisors LLC grew its holdings in General Electric by 22.6% during the 3rd quarter. Legacy Advisors LLC now owns 32,045 shares of the conglomerate’s stock worth $362,000 after acquiring an additional 5,900 shares during the period. Hedge funds and other institutional investors own 57.72% of the company’s stock.
A number of research firms have commented on GE. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. JPMorgan Chase & Co. lowered shares of General Electric from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $6.00 to $5.00 in a report on Monday. Royal Bank of Canada set a $12.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Tuesday, March 12th. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $11.00 price target on shares of General Electric in a report on Friday, March 8th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.39.
Shares of GE stock opened at $9.22 on Wednesday. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59. The firm has a market capitalization of $86.91 billion, a PE ratio of 14.18, a PEG ratio of 4.06 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52.
General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The firm had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion. Equities analysts expect that General Electric will post 0.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be given a $0.01 dividend. The ex-dividend date is Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s dividend payout ratio is currently 6.15%.
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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