General Electric (GE) Shares Sold by Mutual of Omaha Bank Wealth Management
Mutual of Omaha Bank Wealth Management cut its stake in shares of General Electric (NYSE:GE) by 39.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 128,018 shares of the conglomerate’s stock after selling 83,180 shares during the period. General Electric comprises approximately 1.1% of Mutual of Omaha Bank Wealth Management’s investment portfolio, making the stock its 16th largest position. Mutual of Omaha Bank Wealth Management’s holdings in General Electric were worth $3,095,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of GE. MPS Loria Financial Planners LLC acquired a new position in General Electric during the second quarter worth $113,000. Ffcm LLC acquired a new position in General Electric during the second quarter worth $114,000. Corbenic Partners LLC raised its holdings in General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after buying an additional 725 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in General Electric during the third quarter worth $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in General Electric during the second quarter worth $209,000. 55.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric (NYSE GE) opened at $18.54 on Friday. General Electric has a 1-year low of $17.25 and a 1-year high of $31.77. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The stock has a market cap of $160,780.00, a PE ratio of 21.56, a P/E/G ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business posted $0.32 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. analysts forecast that General Electric will post 1.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued 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 2.59%. General Electric’s dividend payout ratio (DPR) is presently 55.81%.
Several research analysts have weighed in on GE shares. Stifel Nicolaus restated a “buy” rating and set a $26.00 price objective on shares of General Electric in a report on Thursday, October 12th. JPMorgan Chase & Co. lowered their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock 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 target price on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.39.
In other General Electric news, Chairman John Leonard Flannery bought 60,000 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the completion of the transaction, the chairman now directly owns 575,477 shares of the company’s stock, valued at $10,513,964.79. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Francisco Dsouza bought 55,000 shares of the business’s stock in a transaction on 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 purchased 120,500 shares of company stock valued at $2,183,220 in the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
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