Parkside Financial Bank & Trust raised its position in General Electric (NYSE:GE) by 49.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 53,626 shares of the conglomerate’s stock after purchasing an additional 17,812 shares during the period. Parkside Financial Bank & Trust’s holdings in General Electric were worth $480,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. CHICAGO TRUST Co NA raised its stake in shares of General Electric by 0.4% in 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 in the last quarter. Evanson Asset Management LLC grew its position in General Electric by 5.6% in the 2nd quarter. Evanson Asset Management LLC now owns 19,490 shares of the conglomerate’s stock worth $205,000 after purchasing an additional 1,029 shares during the last quarter. Schnieders Capital Management LLC grew its position in General Electric by 6.0% in the 2nd quarter. Schnieders Capital Management LLC now owns 18,573 shares of the conglomerate’s stock worth $195,000 after purchasing an additional 1,050 shares during the last quarter. Monarch Capital Management Inc. grew its position in General Electric by 0.7% in the 2nd quarter. Monarch Capital Management Inc. now owns 165,752 shares of the conglomerate’s stock worth $1,740,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Lee Danner & Bass Inc. grew its position in General Electric by 1.1% in the 2nd quarter. Lee Danner & Bass Inc. now owns 105,328 shares of the conglomerate’s stock worth $1,106,000 after purchasing an additional 1,105 shares during the last quarter. 58.97% of the stock is owned by institutional investors.
NYSE:GE traded up $0.23 during trading hours on Friday, reaching $11.52. 61,022,582 shares of the company’s stock were exchanged, compared to its average volume of 60,476,536. The company has a market capitalization of $100.61 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13. General Electric has a 12 month low of $6.66 and a 12 month high of $11.75. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 2.67. The business’s 50-day simple moving average is $9.25 and its two-hundred day simple moving average is $9.58.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion during the quarter, compared to analysts’ expectations of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the firm posted $0.14 earnings per share. As a group, sell-side analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Monday, September 16th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Friday, September 13th. General Electric’s payout ratio is 6.15%.
GE has been the subject of several recent analyst reports. William Blair reiterated a “buy” rating on shares of General Electric in a report on Friday, August 16th. Royal Bank of Canada reiterated a “buy” rating and issued a $13.00 price objective on shares of General Electric in a report on Wednesday, October 30th. JPMorgan Chase & Co. set a $5.00 price objective on shares of General Electric and gave the company an “underweight” rating in a report on Friday, November 1st. Citigroup set a $14.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley initiated coverage on shares of General Electric in a report on Thursday, September 5th. They issued an “equal weight” rating and a $10.00 price objective for the company. Two equities 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. General Electric presently has an average rating of “Hold” and a consensus price target of $10.41.
In other news, Director Thomas W. Horton purchased 55,248 shares of General Electric stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $9.02 per share, for a total transaction of $498,336.96. Following the transaction, the director now owns 55,248 shares in the company, valued at $498,336.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas S. Timko purchased 10,000 shares of General Electric stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.83 per share, with a total value of $88,300.00. The disclosure for this purchase can be found here. Insiders have purchased 801,068 shares of company stock valued at $6,954,745 over the last 90 days. 1.13% of the stock is currently owned by insiders.
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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