General Electric (GE) Shares Bought by Haverford Trust Co.
Haverford Trust Co. increased its stake in shares of General Electric (NYSE:GE) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,472,217 shares of the conglomerate’s stock after purchasing an additional 8,591 shares during the quarter. Haverford Trust Co.’s holdings in General Electric were worth $35,598,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC bought a new position in General Electric in the second quarter valued at approximately $113,000. Ffcm LLC bought a new position in General Electric in the second quarter valued at approximately $114,000. Corbenic Partners LLC boosted its stake in General Electric by 15.7% in the second 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 General Electric in the third quarter valued at approximately $164,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in General Electric in the third quarter valued at approximately $204,000. 55.17% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Alexander Dimitrief acquired 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the acquisition, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. The company’s revenue was down 5.1% on a year-over-year basis. analysts predict that General Electric will post 0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. General Electric’s payout ratio is -66.67%.
A number of equities analysts have recently weighed in on GE shares. JPMorgan Chase & Co. reduced their price target on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Vertical Research set a $18.00 price target on shares of General Electric and gave the stock a “hold” rating in a research report on Tuesday, January 16th. UBS Group started coverage on shares of General Electric in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price target on the stock. TheStreet cut shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Finally, Citigroup set a $25.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $19.86.
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General Electric Company Profile
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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