Samalin Investment Counsel LLC Trims Position in General Electric (NYSE:GE)

Samalin Investment Counsel LLC cut its holdings in shares of General Electric (NYSE:GEGet Rating) by 24.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 830 shares of the conglomerate’s stock after selling 274 shares during the period. Samalin Investment Counsel LLC’s holdings in General Electric were worth $76,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of General Electric by 2.4% during the first quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate’s stock valued at $7,699,963,000 after buying an additional 1,937,915 shares during the period. Capital Research Global Investors boosted its position in shares of General Electric by 39.4% during the fourth quarter. Capital Research Global Investors now owns 53,968,728 shares of the conglomerate’s stock valued at $5,098,427,000 after purchasing an additional 15,251,142 shares in the last quarter. State Street Corp boosted its position in shares of General Electric by 0.6% during the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $4,112,580,000 after purchasing an additional 255,566 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of General Electric by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock valued at $1,664,776,000 after purchasing an additional 513,385 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of General Electric by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 9,690,534 shares of the conglomerate’s stock valued at $886,683,000 after purchasing an additional 47,758 shares in the last quarter. 67.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GE shares. Sanford C. Bernstein started coverage on General Electric in a research report on Tuesday, August 16th. They set an “outperform” rating and a $100.00 price target on the stock. The Goldman Sachs Group dropped their price target on General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Credit Suisse Group dropped their price target on General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Wells Fargo & Company lifted their price target on General Electric to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley dropped their price target on General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.15.

General Electric Trading Up 0.4 %

Shares of NYSE:GE opened at $74.04 on Monday. The company has a market cap of $81.19 billion, a P/E ratio of -17.46, a PEG ratio of 3.86 and a beta of 1.09. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 0.80. General Electric has a 1 year low of $59.93 and a 1 year high of $116.17. The stock’s fifty day moving average price is $71.83 and its 200-day moving average price is $78.39.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.40. The firm had revenue of $18.65 billion for the quarter, compared to the consensus estimate of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 earnings per share. Sell-side analysts expect that General Electric will post 2.74 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 26th. General Electric’s payout ratio is currently -7.55%.

General Electric Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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