General Electric Company (GE) Holdings Cut by Stifel Financial Corp
Stifel Financial Corp reduced its stake in shares of General Electric Company (NYSE:GE) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,970,030 shares of the conglomerate’s stock after selling 951,156 shares during the quarter. General Electric accounts for 0.8% of Stifel Financial Corp’s portfolio, making the stock its 12th largest position. Stifel Financial Corp owned about 11.72% of General Electric worth $215,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric in the first quarter valued at $106,000. PHH Investments Ltd. boosted its holdings in General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the last quarter. Ffcm LLC bought a new position in General Electric in the second quarter valued at about $114,000. Flaharty Asset Management LLC bought a new position in General Electric in the first quarter valued at about $226,000. Finally, Tuttle Tactical Management LLC bought a new position in General Electric in the second quarter valued at about $209,000. Hedge funds and other institutional investors own 55.74% of the company’s stock.
In other news, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, with a total value of $100,320.00. Following the transaction, the director now owns 5,500 shares in the company, valued at $100,320. The transaction 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 the company’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by insiders.
Several research firms recently issued reports on GE. Morgan Stanley cut General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price target on the stock. in a report on Monday, October 23rd. Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and decreased their price target for the company from $26.00 to $22.00 in a report on Tuesday, October 24th. J P Morgan Chase & Co reiterated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $21.74 price target on the stock in a report on Monday, October 23rd. Finally, Argus decreased their price target on General Electric from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.64.
Shares of General Electric Company (NYSE GE) opened at $17.71 on Friday. The company has a market capitalization of $153,582.61, a PE ratio of 14.28, a PEG ratio of 1.92 and a beta of 1.06. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. General Electric Company has a 1 year low of $17.46 and a 1 year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. research analysts forecast that General Electric Company will post 1.07 EPS for the current year.
The firm 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio is currently 120.00%.
General Electric Company Profile
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