Pensionfund Sabic bought a new stake in shares of General Electric Company (NYSE:GE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 178,000 shares of the conglomerate’s stock, valued at approximately $4,304,000. General Electric makes up about 1.3% of Pensionfund Sabic’s investment portfolio, making the stock its 5th biggest position. Pensionfund Sabic owned approximately 0.26% of General Electric as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MPS Loria Financial Planners LLC purchased a new stake in General Electric in the 2nd quarter worth $113,000. Ffcm LLC purchased a new stake in General Electric in the 2nd quarter worth $114,000. Corbenic Partners LLC increased its holdings in General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in General Electric in the 2nd quarter worth $209,000. Finally, Oakmont Partners LLC increased its holdings in General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after acquiring an additional 278 shares in the last quarter. 55.61% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the stock. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Citigroup set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. UBS cut shares of General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $24.00 in a research note on Monday, October 23rd. Royal Bank of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Deutsche Bank lowered their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and an average price target of $23.39.

In related news, Chairman John Leonard Flannery acquired 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven M. Mollenkopf acquired 5,500 shares of General Electric stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last three months, insiders have bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.

Shares of General Electric Company (NYSE GE) opened at $17.76 on Tuesday. General Electric Company has a one year low of $17.46 and a one year high of $32.38. 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 $154,493.20, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.

General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. sell-side analysts forecast that General Electric Company will post 1.07 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders 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 annualized dividend and a dividend yield of 2.70%. General Electric’s payout ratio is 120.00%.

ILLEGAL ACTIVITY NOTICE: This report was first published by Watch List News and is the property of of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/pensionfund-sabic-takes-position-in-general-electric-company-ge/1772883.html.

About General Electric

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 Company (NYSE:GE).

Institutional Ownership by Quarter 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.