General Electric (GE) Shares Sold by Affinity Investment Advisors LLC
Affinity Investment Advisors LLC lessened its holdings in General Electric (NYSE:GE) by 97.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,104 shares of the conglomerate’s stock after selling 394,291 shares during the quarter. Affinity Investment Advisors LLC’s holdings in General Electric were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in GE. Toronto Dominion Bank lifted its holdings in shares of General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after buying an additional 593,686 shares during the period. Warren Averett Asset Management LLC lifted its holdings in shares of General Electric by 7.0% in the 2nd quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after buying an additional 6,799 shares during the period. Palouse Capital Management Inc. lifted its holdings in shares of General Electric by 5.4% in the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after buying an additional 9,755 shares during the period. Destination Wealth Management lifted its holdings in shares of General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after buying an additional 41,100 shares during the period. Finally, Rockland Trust Co. lifted its holdings in shares of General Electric by 8.6% in the 2nd quarter. Rockland Trust Co. now owns 205,544 shares of the conglomerate’s stock worth $5,552,000 after buying an additional 16,309 shares during the period. 55.64% of the stock is currently owned by institutional investors.
Shares of General Electric (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. The firm has a market capitalization of $157,920.00, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.11 and a beta of 1.07. General Electric has a 12 month low of $17.25 and a 12 month high of $31.45.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 55.81%.
Several brokerages have weighed in on GE. Vetr upgraded General Electric from a “buy” rating to a “strong-buy” rating and set a $22.05 target price for the company in a report on Monday. JPMorgan Chase & Co. reiterated a “sell” rating on shares of General Electric in a report on Monday. Cowen restated a “hold” rating and set a $19.00 price objective on shares of General Electric in a research note on Wednesday, November 8th. Deutsche Bank set a $21.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Monday, October 23rd. Finally, Goldman Sachs Group set a $23.00 price objective on General Electric and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.25.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was bought at an average cost 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is currently owned by company insiders.
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