Community Bank of Raymore cut its holdings in General Electric (NYSE:GE) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 767,008 shares of the conglomerate’s stock after selling 86,225 shares during the period. General Electric accounts for 2.8% of Community Bank of Raymore’s investment portfolio, making the stock its 12th biggest position. Community Bank of Raymore’s holdings in General Electric were worth $6,857,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust lifted its stake in General Electric by 49.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 53,626 shares of the conglomerate’s stock worth $480,000 after purchasing an additional 17,812 shares in the last quarter. Taylor Hoffman Wealth Management raised its position in shares of General Electric by 12.3% during the 3rd quarter. Taylor Hoffman Wealth Management now owns 37,551 shares of the conglomerate’s stock valued at $336,000 after buying an additional 4,101 shares in the last quarter. Whitnell & Co. raised its position in shares of General Electric by 140.9% during the 3rd quarter. Whitnell & Co. now owns 20,409 shares of the conglomerate’s stock valued at $182,000 after buying an additional 11,937 shares in the last quarter. Lenox Wealth Management Inc. raised its position in shares of General Electric by 54.1% during the 3rd quarter. Lenox Wealth Management Inc. now owns 12,059 shares of the conglomerate’s stock valued at $107,000 after buying an additional 4,232 shares in the last quarter. Finally, BigSur Wealth Management LLC raised its position in shares of General Electric by 4.0% during the 3rd quarter. BigSur Wealth Management LLC now owns 51,650 shares of the conglomerate’s stock valued at $462,000 after buying an additional 2,000 shares in the last quarter. 58.97% of the stock is owned by institutional investors.
Several research firms have recently weighed in on GE. Deutsche Bank raised their price objective on shares of General Electric from $9.00 to $11.00 in a research report on Thursday, October 31st. Credit Suisse Group restated a “hold” rating and set a $10.00 price objective on shares of General Electric in a research report on Monday, November 4th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a research report on Friday, November 1st. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $11.50 in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. set a $5.00 price objective on shares of General Electric and gave the company an “underweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.41.
Shares of GE opened at $11.52 on Friday. General Electric has a 1-year low of $6.66 and a 1-year high of $11.75. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 2.67. The firm’s 50-day moving average price is $9.25 and its 200-day moving average price is $9.58. The firm has a market capitalization of $100.61 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 2.46 and a beta of 1.13.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 EPS for the quarter, topping the consensus estimate of $0.12 by $0.03. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. General Electric’s quarterly revenue was down .1% on a year-over-year basis. On average, research analysts forecast that General Electric will post 0.61 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, September 13th. General Electric’s payout ratio is currently 6.15%.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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