Lucas Capital Management Cuts Holdings in General Electric (NYSE:GE)

Lucas Capital Management lessened its holdings in General Electric (NYSE:GE) by 16.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,765 shares of the conglomerate’s stock after selling 9,883 shares during the quarter. Lucas Capital Management’s holdings in General Electric were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GE. Vanguard Group Inc. lifted its position in General Electric by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after purchasing an additional 6,167,111 shares during the period. Vanguard Group Inc lifted its position in General Electric by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after purchasing an additional 6,167,111 shares during the period. The Manufacturers Life Insurance Company lifted its position in General Electric by 13.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 102,536,305 shares of the conglomerate’s stock valued at $1,157,635,000 after purchasing an additional 12,033,153 shares during the period. Legal & General Group Plc lifted its position in General Electric by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 40,343,148 shares of the conglomerate’s stock valued at $455,475,000 after purchasing an additional 898,000 shares during the period. Finally, Pzena Investment Management LLC lifted its position in General Electric by 95.6% during the 3rd quarter. Pzena Investment Management LLC now owns 33,345,586 shares of the conglomerate’s stock valued at $376,472,000 after purchasing an additional 16,297,449 shares during the period. 57.72% of the stock is currently owned by hedge funds and other institutional investors.

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 completion of the transaction, the insider now owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.13% of the company’s stock.

NYSE GE traded up $0.23 during trading hours on Friday, reaching $9.35. 51,509,079 shares of the company’s stock were exchanged, compared to its average volume of 62,562,964. General Electric has a one year low of $6.66 and a one year high of $15.59. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81. The stock has a market cap of $81.18 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 3.79 and a beta of 0.99.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $32.01 billion. On average, analysts predict that General Electric will post 0.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.

A number of research firms have issued reports on GE. JPMorgan Chase & Co. downgraded shares of General Electric from a “neutral” rating to an “underweight” rating and cut their target price for the company from $6.00 to $5.00 in a research report on Monday, April 8th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Royal Bank of Canada set a $12.00 price target on General Electric and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $11.00 price target on shares of General Electric in a research note on Friday, March 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $12.39.

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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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