General Electric (GE) Shares Sold by Searle & CO.

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Searle & CO. cut its holdings in General Electric (NYSE:GE) by 15.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,271 shares of the conglomerate’s stock after selling 6,412 shares during the period. Searle & CO.’s holdings in General Electric were worth $409,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of GE. FMR LLC boosted its holdings in shares of General Electric by 158.6% in the 2nd quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock valued at $2,799,528,000 after buying an additional 126,169,069 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of General Electric by 43.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock valued at $1,216,672,000 after buying an additional 27,527,425 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of General Electric by 334.5% in the 2nd quarter. Pzena Investment Management LLC now owns 17,048,137 shares of the conglomerate’s stock valued at $232,025,000 after buying an additional 13,124,900 shares during the period. Morgan Stanley boosted its holdings in shares of General Electric by 26.1% in the 2nd quarter. Morgan Stanley now owns 54,507,783 shares of the conglomerate’s stock valued at $741,852,000 after buying an additional 11,294,608 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of General Electric by 15.2% in the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock valued at $1,005,486,000 after buying an additional 9,835,343 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.

GE has been the subject of several research reports. Gabelli reaffirmed a “buy” rating and issued a $21.00 price target on shares of General Electric in a report on Monday, September 24th. Citigroup reduced their target price on shares of General Electric from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Morningstar set a $15.70 target price on shares of General Electric and gave the company a “buy” rating in a research note on Monday, August 13th. Barclays raised shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 target price for the company in a research note on Monday, October 8th. Finally, Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $13.86.

In related news, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of General Electric stock in a transaction dated Thursday, November 1st. The stock was bought at an average cost of $9.73 per share, with a total value of $2,189,250.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Alexander Dimitrief purchased 10,000 shares of General Electric stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $9.48 per share, with a total value of $94,800.00. Following the completion of the purchase, the senior vice president now owns 103,075 shares in the company, valued at approximately $977,151. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 295,000 shares of company stock valued at $2,783,250. Company insiders own 1.12% of the company’s stock.

Shares of NYSE:GE opened at $7.01 on Friday. The company has a market capitalization of $63.82 billion, a PE ratio of 6.68, a P/E/G ratio of 2.09 and a beta of 0.88. General Electric has a twelve month low of $6.99 and a twelve month high of $19.39. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to analyst estimates of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Equities analysts forecast that General Electric will post 0.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 25th. Stockholders of record on Thursday, December 20th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.57%. General Electric’s dividend payout ratio is currently 45.71%.

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General Electric Company 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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