Intact Investment Management Inc. Sells 43,200 Shares of General Electric (GE)

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Intact Investment Management Inc. decreased its position in shares of General Electric (NYSE:GE) by 26.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,100 shares of the conglomerate’s stock after selling 43,200 shares during the period. Intact Investment Management Inc.’s holdings in General Electric were worth $1,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new stake in shares of General Electric during the 1st quarter worth approximately $116,000. Santori & Peters Inc. purchased a new position in shares of General Electric during the 4th quarter valued at approximately $120,000. Archford Capital Strategies LLC purchased a new position in General Electric in the 1st quarter valued at $121,000. Blue Chip Wealth Management Inc. purchased a new position in General Electric in the 1st quarter valued at $135,000. Finally, Harborview Advisors LLC purchased a new position in General Electric in the 1st quarter valued at $137,000. 53.74% of the stock is owned by institutional investors and hedge funds.

In related news, Director H Lawrence Culp, Jr. bought 191,000 shares of the company’s stock in a transaction dated Tuesday, July 24th. The shares were acquired at an average price of $13.04 per share, with a total value of $2,490,640.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.12% of the company’s stock.

Several research analysts have recently commented on the company. Gabelli reiterated a “buy” rating on shares of General Electric in a report on Wednesday, July 18th. JPMorgan Chase & Co. set a $11.00 price objective on General Electric and gave the stock a “sell” rating in a research report on Wednesday, June 27th. Goldman Sachs Group reissued a “neutral” rating and set a $14.00 price objective on shares of General Electric in a research report on Wednesday, June 27th. Gordon Haskett initiated coverage on General Electric in a research report on Friday. They set a “sell” rating for the company. Finally, Royal Bank of Canada dropped their target price on General Electric to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 28th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.26.

NYSE GE traded down $0.40 on Friday, reaching $12.32. The stock had a trading volume of 121,772,822 shares, compared to its average volume of 76,816,289. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39. General Electric has a 12-month low of $11.21 and a 12-month high of $23.84. The stock has a market cap of $98.03 billion, a P/E ratio of 11.73, a P/E/G ratio of 2.14 and a beta of 0.97.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion during the quarter, compared to analysts’ expectations of $29.39 billion. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, research analysts predict that General Electric will post 0.96 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Friday, September 14th. General Electric’s payout ratio is currently 45.71%.

General Electric Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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