General Electric (GE) Shares Sold by Cambridge Investment Research Advisors Inc.

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Cambridge Investment Research Advisors Inc. lowered its stake in shares of General Electric (NYSE:GE) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,283,672 shares of the conglomerate’s stock after selling 9,115 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in General Electric were worth $9,717,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BigSur Wealth Management LLC lifted its holdings in shares of General Electric by 3.4% in the 4th quarter. BigSur Wealth Management LLC now owns 31,650 shares of the conglomerate’s stock worth $240,000 after acquiring an additional 1,048 shares during the last quarter. Ford Financial Group Inc. raised its holdings in General Electric by 7.8% in the fourth quarter. Ford Financial Group Inc. now owns 16,210 shares of the conglomerate’s stock valued at $122,000 after acquiring an additional 1,171 shares in the last quarter. Edge Wealth Management LLC raised its holdings in General Electric by 47.4% in the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after acquiring an additional 1,300 shares in the last quarter. Gilman Hill Asset Management LLC raised its holdings in General Electric by 7.2% in the fourth quarter. Gilman Hill Asset Management LLC now owns 19,444 shares of the conglomerate’s stock valued at $147,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC raised its holdings in General Electric by 2.3% in the fourth quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 60,776 shares of the conglomerate’s stock valued at $460,000 after acquiring an additional 1,344 shares in the last quarter. Institutional investors own 57.72% of the company’s stock.

Shares of General Electric stock opened at $9.00 on Friday. The company has a market capitalization of $79.19 billion, a price-to-earnings ratio of 13.85, a P/E/G ratio of 4.04 and a beta of 0.99. General Electric has a 52 week low of $6.66 and a 52 week 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.

General Electric (NYSE:GE) last announced 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). The company had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. Analysts anticipate that General Electric will post 0.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

Several analysts recently weighed in on the stock. Deutsche Bank raised their target price on shares of General Electric from $8.00 to $11.00 and gave the company a “positive” rating in a report on Monday, February 25th. They noted that the move was a valuation call. Cowen reaffirmed a “hold” rating and issued a $8.00 target price on shares of General Electric in a report on Tuesday, February 26th. Gabelli reaffirmed a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Bank of America reaffirmed a “hold” rating and issued a $11.00 target price on shares of General Electric in a report on Thursday, January 31st. Finally, Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.39.

In other news, insider Russell Stokes sold 49,904 shares of the firm’s 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 transaction, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.13% of the company’s stock.

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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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