General Electric (GE) Shares Sold by Morse Asset Management Inc
Morse Asset Management Inc lowered its holdings in shares of General Electric (NYSE:GE) by 29.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,358 shares of the conglomerate’s stock after selling 12,042 shares during the quarter. Morse Asset Management Inc’s holdings in General Electric were worth $686,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its position in General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares during the last quarter. Warren Averett Asset Management LLC raised its position in General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock valued at $2,805,000 after buying an additional 6,799 shares during the last quarter. Palouse Capital Management Inc. raised its position in General Electric by 5.4% in the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after buying an additional 9,755 shares during the last quarter. Destination Wealth Management raised its position in General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares during the last quarter. Finally, Rockland Trust Co. raised its position in General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock valued at $5,552,000 after buying an additional 16,309 shares during the last quarter. 55.64% of the stock is currently owned by institutional investors.
GE has been the topic of several recent analyst reports. Vetr lowered General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target on the stock. in a research report on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $30.00 price target (down previously from $33.00) on shares of General Electric in a research report on Thursday, October 5th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of General Electric in a research report on Thursday, September 21st. Morgan Stanley lowered their price target on General Electric from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Monday, October 2nd. Finally, Deutsche Bank set a $21.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, October 23rd. Six analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $22.94.
In other General Electric news, Director Steven M. Mollenkopf bought 5,500 shares of General Electric stock in a transaction dated Thursday, November 16th. The stock was bought at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have bought a total of 120,500 shares of company stock valued at $2,183,220 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.
General Electric (NYSE:GE) opened at $16.77 on Friday. 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 one year low of $16.76 and a one year high of $31.34. The company has a market capitalization of $145,430.00, a P/E ratio of 19.50, a PEG ratio of 1.96 and a beta of 1.07.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. research analysts anticipate that General Electric will post 1.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.86%. General Electric’s dividend payout ratio is currently 55.81%.
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General Electric Company Profile
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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