Tokio Marine Asset Management Co. Ltd. lessened its holdings in shares of General Electric (NYSE:GE) by 22.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,513 shares of the conglomerate’s stock after selling 21,999 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in General Electric were worth $1,802,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Ffcm LLC purchased a new position in General Electric during the 2nd quarter valued at about $114,000. MPS Loria Financial Planners LLC purchased a new position in General Electric during the 2nd quarter valued at about $113,000. Corbenic Partners LLC grew its stake in General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in General Electric during the 3rd quarter valued at about $164,000. Finally, Tuttle Tactical Management LLC bought a new stake in shares of General Electric in the 2nd quarter valued at approximately $209,000. 55.64% of the stock is currently owned by institutional investors.
In related news, Chairman John Leonard Flannery bought 60,000 shares of General Electric stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, for a total transaction of $1,096,200.00. Following the acquisition, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Francisco Dsouza bought 55,000 shares of General Electric stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 120,500 shares of company stock valued at $2,183,220. Corporate insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. analysts predict that General Electric will post 1.07 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.56%. General Electric’s dividend payout ratio (DPR) is currently 60.00%.
Several equities research analysts recently commented on GE shares. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price target on shares of General Electric in a research note on Thursday, October 12th. JPMorgan Chase & Co. lowered their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Vetr raised General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 price target for the company in a research note on Tuesday, October 10th. Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price target on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus target price of $23.25.
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