Kimelman & Baird LLC Has $3.31 Million Holdings in General Electric (NYSE:GE)
Kimelman & Baird LLC cut its stake in shares of General Electric (NYSE:GE) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 370,599 shares of the conglomerate’s stock after selling 975 shares during the period. Kimelman & Baird LLC’s holdings in General Electric were worth $3,313,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in GE. ANTIPODES PARTNERS Ltd lifted its holdings in shares of General Electric by 5.6% in the second quarter. ANTIPODES PARTNERS Ltd now owns 14,753,170 shares of the conglomerate’s stock valued at $154,908,000 after purchasing an additional 781,672 shares in the last quarter. Comerica Bank lifted its holdings in shares of General Electric by 1.6% in the second quarter. Comerica Bank now owns 1,954,457 shares of the conglomerate’s stock valued at $19,506,000 after purchasing an additional 31,411 shares in the last quarter. Bedel Financial Consulting Inc. lifted its holdings in shares of General Electric by 7.1% in the second quarter. Bedel Financial Consulting Inc. now owns 19,024 shares of the conglomerate’s stock valued at $200,000 after purchasing an additional 1,259 shares in the last quarter. Neuburgh Advisers LLC lifted its holdings in shares of General Electric by 11.9% in the second quarter. Neuburgh Advisers LLC now owns 243,338 shares of the conglomerate’s stock valued at $2,555,000 after purchasing an additional 25,942 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after purchasing an additional 9,483,976 shares in the last quarter. 60.22% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Credit Suisse Group restated a “neutral” rating and issued a $11.00 price target on shares of General Electric in a report on Tuesday, December 3rd. Barclays restated a “buy” rating and issued a $13.00 price target on shares of General Electric in a report on Sunday. ValuEngine lowered General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank boosted their price target on General Electric from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and a consensus target price of $10.50.
General Electric (NYSE:GE) last released its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The business 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 company posted $0.14 earnings per share. General Electric’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 0.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, December 23rd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.04 annualized dividend and a yield of 0.36%. General Electric’s payout ratio is presently 6.15%.
General Electric Company 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.
Read More: Are FAANG stocks a good investment?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.