Blume Capital Management Inc. lessened its stake in shares of General Electric (NYSE:GE) by 80.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 40,384 shares of the conglomerate’s stock after selling 162,529 shares during the quarter. Blume Capital Management Inc.’s holdings in General Electric were worth $306,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hollencrest Capital Management lifted its stake in shares of General Electric by 4.5% during the third quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock worth $2,167,000 after purchasing an additional 8,345 shares in the last quarter. First Command Financial Services Inc. lifted its stake in shares of General Electric by 12.0% during the third quarter. First Command Financial Services Inc. now owns 91,708 shares of the conglomerate’s stock worth $1,036,000 after purchasing an additional 9,856 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its stake in shares of General Electric by 41.6% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 800,648 shares of the conglomerate’s stock worth $9,182,000 after purchasing an additional 235,031 shares in the last quarter. Arlington Partners LLC lifted its stake in shares of General Electric by 366.7% during the third quarter. Arlington Partners LLC now owns 14,000 shares of the conglomerate’s stock worth $158,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Augustine Asset Management Inc. lifted its stake in shares of General Electric by 38.9% during the third quarter. Augustine Asset Management Inc. now owns 27,355 shares of the conglomerate’s stock worth $308,000 after purchasing an additional 7,660 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
In other General Electric news, insider Russell Stokes sold 49,904 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the sale, the insider now owns 265,986 shares in the company, valued at $2,641,240.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.13% of the company’s stock.
A number of research analysts have commented on GE shares. Credit Suisse Group set a $10.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Thursday, January 3rd. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, December 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $10.16 price objective (up previously from $1.06) on shares of General Electric in a research note on Friday, February 1st. Barclays cut their price target on General Electric from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Monday, December 17th. Finally, Argus upgraded General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus target price of $12.39.
NYSE:GE opened at $8.98 on Tuesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81. General Electric has a one year low of $6.66 and a one year high of $15.59. The stock has a market capitalization of $79.19 billion, a P/E ratio of 13.82, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99.
General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. The business had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion. As a group, equities research analysts predict that General Electric will post 0.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is 6.15%.
TRADEMARK VIOLATION NOTICE: This article was posted by Macon Daily and is the property of of Macon Daily. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://macondaily.com/2019/04/16/general-electric-ge-shares-sold-by-blume-capital-management-inc.html.
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.
Read More: Trading Strategy Examples and Plans
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.