General Electric (GE) Holdings Reduced by McKinley Carter Wealth Services Inc.
McKinley Carter Wealth Services Inc. decreased its holdings in shares of General Electric (NYSE:GE) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,837 shares of the conglomerate’s stock after selling 4,573 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in General Electric were worth $504,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Ffcm LLC purchased a new position in shares of General Electric during the 2nd quarter worth approximately $114,000. MPS Loria Financial Planners LLC purchased a new position in shares of General Electric during the 2nd quarter worth approximately $113,000. Corbenic Partners LLC grew its holdings 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 worth $144,000 after acquiring an additional 725 shares during the period. Bristlecone Advisors LLC purchased a new position in shares of General Electric during the 3rd quarter worth approximately $164,000. Finally, Tuttle Tactical Management LLC purchased a new position in shares of General Electric during the 2nd quarter worth approximately $209,000. 55.64% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on GE shares. Stifel Nicolaus reiterated a “buy” rating and set a $26.00 target price on shares of General Electric in a report on Thursday, October 12th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Monday, October 23rd. Citigroup set a $28.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price target on General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar restated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $23.25.
Shares of General Electric (NYSE GE) opened at $18.21 on Wednesday. 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 has a 52 week low of $17.25 and a 52 week high of $31.45. The company has a market capitalization of $157,920.00, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 2.11 and a beta of 1.07.
General Electric (NYSE:GE) last issued its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts anticipate that General Electric will post 1.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.64%. General Electric’s dividend payout ratio is 55.81%.
In other news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction dated Monday, November 20th. The shares were purchased at an average cost of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now directly owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 120,500 shares of company stock worth $2,183,220. Company insiders own 0.36% of the company’s stock.
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