Monte Financial Group LLC Boosts Stock Position in General Electric (NYSE:GE)

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Monte Financial Group LLC lifted its position in General Electric (NYSE:GE) by 4.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,671 shares of the conglomerate’s stock after purchasing an additional 1,300 shares during the quarter. Monte Financial Group LLC’s holdings in General Electric were worth $265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GE. CHICAGO TRUST Co NA raised its position in General Electric by 0.4% during the 2nd quarter. CHICAGO TRUST Co NA now owns 249,228 shares of the conglomerate’s stock valued at $2,617,000 after purchasing an additional 992 shares during the last quarter. Evanson Asset Management LLC raised its position in General Electric by 5.6% during the 2nd quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock valued at $205,000 after purchasing an additional 1,029 shares during the last quarter. Schnieders Capital Management LLC raised its position in General Electric by 6.0% during the 2nd quarter. Schnieders Capital Management LLC now owns 18,573 shares of the conglomerate’s stock valued at $195,000 after purchasing an additional 1,050 shares during the last quarter. Monarch Capital Management Inc. raised its position in General Electric by 0.7% during the 2nd quarter. Monarch Capital Management Inc. now owns 165,752 shares of the conglomerate’s stock valued at $1,740,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Lee Danner & Bass Inc. raised its position in General Electric by 1.1% during the 2nd quarter. Lee Danner & Bass Inc. now owns 105,328 shares of the conglomerate’s stock valued at $1,106,000 after purchasing an additional 1,105 shares during the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Shares of NYSE:GE traded up $0.07 during trading on Tuesday, hitting $11.42. The stock had a trading volume of 47,402,380 shares, compared to its average volume of 73,295,063. General Electric has a 12 month low of $6.66 and a 12 month high of $11.75. The company has a market capitalization of $99.74 billion, a PE ratio of 17.57, a PEG ratio of 2.80 and a beta of 1.13. The firm’s fifty day moving average is $9.34 and its 200 day moving average is $9.60. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67.

General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The firm had revenue of $23.36 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the company earned $0.14 EPS. The business’s revenue was down .1% compared to the same quarter last year. Equities research analysts expect that General Electric will post 0.61 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Friday, September 13th. General Electric’s dividend payout ratio is currently 6.15%.

A number of research analysts have commented on GE shares. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target for the company in a research report on Friday, November 1st. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $11.50 in a research report on Monday, July 15th. Deutsche Bank upped their price target on General Electric from $9.00 to $11.00 in a research report on Thursday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $13.00 price target on shares of General Electric in a research report on Wednesday, October 30th. Finally, William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and a consensus target price of $10.41.

In related news, Director Leslie Seidman purchased 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $7.80 per share, for a total transaction of $50,700.00. Following the purchase, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $50,700. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman H Lawrence Culp, Jr. purchased 252,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $7.93 per share, for a total transaction of $1,999,946.00. The disclosure for this purchase can be found here. Insiders bought a total of 308,536 shares of company stock valued at $2,463,232 in the last three months. Corporate insiders own 1.13% of the company’s stock.

About General Electric

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

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