Advisors Asset Management Inc. Lowers Stake in General Electric (GE)

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Advisors Asset Management Inc. lessened its holdings in General Electric (NYSE:GE) by 25.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,404,480 shares of the conglomerate’s stock after selling 485,062 shares during the period. Advisors Asset Management Inc.’s holdings in General Electric were worth $10,632,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management increased its holdings in shares of General Electric by 4.5% in the third quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock worth $2,167,000 after acquiring an additional 8,345 shares in the last quarter. State Treasurer State of Michigan increased its holdings in shares of General Electric by 0.7% in the third quarter. State Treasurer State of Michigan now owns 2,687,960 shares of the conglomerate’s stock worth $30,347,000 after acquiring an additional 18,200 shares in the last quarter. Northwest Capital Management Inc bought a new stake in shares of General Electric in the third quarter worth about $181,000. Oppenheimer Asset Management Inc. increased its holdings in shares of General Electric by 77.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 105,801 shares of the conglomerate’s stock worth $1,194,000 after acquiring an additional 46,073 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of General Electric by 3.8% in the third quarter. Oppenheimer & Co. Inc. now owns 978,996 shares of the conglomerate’s stock worth $11,053,000 after acquiring an additional 35,788 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Russell Stokes sold 49,904 shares of the 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 directly owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.13% of the company’s stock.

GE stock opened at $9.32 on Tuesday. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. The stock has a market cap of $81.18 billion, a PE ratio of 14.34, a PEG ratio of 3.79 and a beta of 0.99. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $15.59.

General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $33.28 billion for the quarter, compared to analyst estimates of $32.01 billion. General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. As a group, equities research analysts anticipate that General Electric will post 0.58 EPS for the current fiscal year.

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

Several equities research analysts have issued reports on GE shares. Credit Suisse Group set a $10.00 price target on General Electric and gave the stock a “neutral” rating in a report on Thursday, January 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.16 price target (up from $1.06) on shares of General Electric in a report on Friday, February 1st. Argus upgraded General Electric from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Royal Bank of Canada upped their price objective on General Electric from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, February 1st. Finally, ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Two equities 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 has an average rating of “Hold” and a consensus price target of $12.39.

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

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