General Electric (NYSE:GE) Holdings Cut by Bridgeworth LLC

Bridgeworth LLC decreased its position in General Electric (NYSE:GE) by 11.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,613 shares of the conglomerate’s stock after selling 2,847 shares during the period. Bridgeworth LLC’s holdings in General Electric were worth $129,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management raised its holdings in shares of General Electric by 4.5% during the 3rd quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock valued at $2,167,000 after buying an additional 8,345 shares during the period. NewSquare Capital LLC raised its stake in General Electric by 16.4% during the 3rd quarter. NewSquare Capital LLC now owns 110,489 shares of the conglomerate’s stock valued at $1,247,000 after acquiring an additional 15,568 shares in the last quarter. West Coast Financial LLC bought a new stake in General Electric during the 3rd quarter valued at $165,000. Barry Investment Advisors LLC bought a new stake in General Electric during the 3rd quarter valued at $128,000. Finally, Summit Financial Wealth Advisors LLC raised its stake in shares of General Electric by 1,672.6% in the 3rd quarter. Summit Financial Wealth Advisors LLC now owns 252,293 shares of the conglomerate’s stock worth $3,065,000 after buying an additional 238,060 shares in the last quarter. Institutional investors own 57.85% of the company’s stock.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. JPMorgan Chase & Co. cut General Electric from a “neutral” rating to an “underweight” rating and cut their price target for the company from $6.00 to $5.00 in a report on Monday, April 8th. Cowen restated a “hold” rating and set a $8.00 price target on shares of General Electric in a research report on Wednesday. Royal Bank of Canada set a $12.00 price objective on General Electric and gave the company a “buy” rating in a research report on Tuesday, March 12th. Finally, Deutsche Bank set a $10.00 price target on General Electric and gave the company a “hold” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. General Electric has an average rating of “Hold” and an average price target of $12.33.

In other news, insider Russell Stokes sold 49,904 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were 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 directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.13% of the company’s stock.

Shares of General Electric stock traded up $0.25 during trading on Friday, hitting $10.50. The company’s stock had a trading volume of 66,702,854 shares, compared to its average volume of 94,554,281. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.93. The stock has a market cap of $91.17 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 4.10 and a beta of 0.99. General Electric has a 52 week low of $6.66 and a 52 week high of $15.59.

General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.05. The firm had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts anticipate that General Electric will post 0.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.38%. General Electric’s dividend payout ratio (DPR) is 6.15%.

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

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