Community Trust & Investment Co. reduced its holdings in General Electric (NYSE:GE) by 94.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,635 shares of the conglomerate’s stock after selling 574,363 shares during the quarter. Community Trust & Investment Co.’s holdings in General Electric were worth $535,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of GE. Ffcm LLC bought a new stake in shares of General Electric during the second quarter valued at approximately $114,000. Corbenic Partners LLC increased its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC bought a new stake in shares of General Electric during the third quarter valued at approximately $164,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of General Electric during the third quarter valued at approximately $204,000. Finally, Kalos Management Inc. bought a new stake in shares of General Electric during the third quarter valued at approximately $211,000. Institutional investors and hedge funds own 56.22% of the company’s stock.
GE stock opened at $13.99 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 1-year low of $12.73 and a 1-year high of $30.54. The firm has a market capitalization of $119,732.73, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 2.68 and a beta of 1.02.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.43%. General Electric’s dividend payout ratio is currently 45.71%.
In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by insiders.
Several research analysts recently issued reports on the company. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. Goldman Sachs set a $14.00 target price on General Electric and gave the company a “hold” rating in a research report on Monday. JPMorgan Chase reaffirmed an “underweight” rating and set a $14.00 target price (down previously from $16.00) on shares of General Electric in a research report on Monday, February 12th. Royal Bank of Canada cut their target price on General Electric to $17.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 25th. Finally, Citigroup set a $23.00 target price on General Electric and gave the company a “buy” rating in a research report on Monday, February 26th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $17.86.
About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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