FineMark National Bank & Trust reduced its stake in shares of General Electric (NYSE:GE) by 3.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 441,324 shares of the conglomerate’s stock after selling 17,001 shares during the quarter. FineMark National Bank & Trust’s holdings in General Electric were worth $10,671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Ffcm LLC bought a new position in shares of General Electric during the 2nd quarter valued at approximately $114,000. MPS Loria Financial Planners LLC bought a new position in shares of General Electric during the 2nd quarter valued at approximately $113,000. Corbenic Partners LLC boosted its position in shares of General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of General Electric during the 3rd quarter valued at approximately $164,000. Finally, Tuttle Tactical Management LLC bought a new position in shares of General Electric during the 2nd quarter valued at approximately $209,000. 55.64% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on GE shares. JPMorgan Chase & Co. set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Citigroup set a $28.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a research report on Wednesday, January 10th. Finally, Royal Bank of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. General Electric has a consensus rating of “Hold” and an average price target of $23.25.

Shares of General Electric (NYSE:GE) opened at $18.76 on Tuesday. General Electric has a 52-week low of $17.25 and a 52-week high of $31.45. The firm has a market capitalization of $162,690.00, a price-to-earnings ratio of 21.81, a PEG ratio of 2.11 and a beta of 1.07. 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 (NYSE:GE) last released its 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). 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 last year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. equities research analysts predict that General Electric will post 1.07 EPS for the current 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 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 2.56%. General Electric’s dividend payout ratio (DPR) is 55.81%.

In other news, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the purchase, the director now owns 5,500 shares in the company, valued at approximately $100,320. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Francisco Dsouza purchased 55,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 120,500 shares of company stock valued at $2,183,220. Corporate insiders own 0.36% of the company’s stock.

WARNING: This story was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this story on another domain, it was illegally stolen and republished in violation of United States and international trademark & copyright law. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/01/16/general-electric-ge-shares-sold-by-finemark-national-bank-trust.html.

General Electric Company Profile

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).

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.