General Electric (GE) Shares Bought by Lincoln National Corp
Lincoln National Corp raised its stake in General Electric (NYSE:GE) by 52.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,194 shares of the conglomerate’s stock after buying an additional 57,351 shares during the period. Lincoln National Corp’s holdings in General Electric were worth $4,019,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of GE. MPS Loria Financial Planners LLC acquired a new position in shares of General Electric during the second quarter worth $113,000. Ffcm LLC acquired a new position in shares of General Electric during the second quarter worth $114,000. Corbenic Partners LLC lifted its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of General Electric during the third quarter worth $164,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of General Electric during the second quarter worth $209,000. Hedge funds and other institutional investors own 55.64% of the company’s stock.
Shares of General Electric (GE) opened at $16.26 on Friday. General Electric has a 52 week low of $16.02 and a 52 week high of $30.90. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $141,010.00, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 3.08 and a beta of 1.07.
General Electric (NYSE:GE) last posted 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). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same period last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts predict that General Electric will post 1.05 EPS for the current year.
The business 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 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is currently 55.81%.
A number of equities analysts recently weighed in on GE shares. Vetr downgraded shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a research note on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and set a $30.00 target price (down previously from $33.00) on shares of General Electric in a research note on Thursday, October 5th. Morgan Stanley lowered their target price on shares of General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Monday, October 2nd. Deutsche Bank set a $21.00 target price on shares of General Electric and gave the stock a “sell” rating in a research note on Monday, October 23rd. Finally, UBS Group downgraded 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. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and an average price target of $22.94.
In related news, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average cost 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 in the company, valued at approximately $10,513,964.79. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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, with a total value of $100,320.00. Following the completion of the purchase, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 120,500 shares of company stock valued at $2,183,220. Insiders own 0.36% of the company’s stock.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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