General Electric (GE) Stake Lessened by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of General Electric (NYSE:GE) by 43.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,525,770 shares of the conglomerate’s stock after selling 1,176,709 shares during the quarter. Victory Capital Management Inc. owned 2.24% of General Electric worth $36,893,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ffcm LLC purchased a new stake in shares of General Electric during the second quarter valued at $114,000. MPS Loria Financial Planners LLC purchased a new stake in shares of General Electric during the second quarter valued at $113,000. Corbenic Partners LLC boosted its stake in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC purchased a new stake in shares of General Electric during the third quarter valued at $164,000. Finally, Tuttle Tactical Management LLC purchased a new stake in shares of General Electric during the second quarter valued at $209,000. 55.64% of the stock is owned by institutional investors.

A number of research firms recently weighed in on GE. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 price objective on shares of General Electric in a research note on Thursday, October 12th. Bank of America raised shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Monday, October 23rd. Citigroup set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.94.

In other news, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf bought 5,500 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.

General Electric (NYSE GE) opened at $18.21 on Wednesday. General Electric has a fifty-two week low of $17.25 and a fifty-two week high of $31.45. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The stock has a market cap of $157,920.00, a PE ratio of 21.17, a PEG ratio of 2.11 and a beta of 1.07.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. During the same quarter last year, the company earned $0.32 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. sell-side analysts forecast that General Electric will post 1.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.64%. General Electric’s dividend payout ratio (DPR) is currently 55.81%.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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

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