Oppenheimer Asset Management Inc. Lowers Stock Holdings in General Electric (NYSE:GE)

Oppenheimer Asset Management Inc. decreased its holdings in General Electric (NYSE:GEFree Report) by 24.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,919 shares of the conglomerate’s stock after selling 2,935 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in General Electric were worth $986,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pinnacle Wealth Planning Services Inc. lifted its position in General Electric by 2.0% during the 2nd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,412 shares of the conglomerate’s stock worth $485,000 after buying an additional 88 shares in the last quarter. Vise Technologies Inc. lifted its position in General Electric by 2.8% during the 2nd quarter. Vise Technologies Inc. now owns 3,261 shares of the conglomerate’s stock worth $358,000 after buying an additional 89 shares in the last quarter. Macroview Investment Management LLC lifted its position in General Electric by 43.4% during the 3rd quarter. Macroview Investment Management LLC now owns 317 shares of the conglomerate’s stock worth $35,000 after buying an additional 96 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in General Electric by 2.7% during the 3rd quarter. Nicolet Advisory Services LLC now owns 3,765 shares of the conglomerate’s stock worth $410,000 after buying an additional 98 shares in the last quarter. Finally, Merrion Investment Management Co LLC lifted its position in General Electric by 3.1% during the 3rd quarter. Merrion Investment Management Co LLC now owns 3,300 shares of the conglomerate’s stock worth $365,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.

Insiders Place Their Bets

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at approximately $6,552,351.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GE. Royal Bank of Canada cut their price target on shares of General Electric from $150.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 24th. Barclays boosted their price objective on shares of General Electric from $144.00 to $153.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. TheStreet upgraded shares of General Electric from a “c+” rating to a “b+” rating in a research note on Tuesday, January 23rd. StockNews.com upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, February 1st. Finally, Wells Fargo & Company boosted their price objective on shares of General Electric from $144.00 to $148.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Get Our Latest Report on General Electric

General Electric Stock Up 0.4 %

Shares of GE opened at $139.07 on Friday. General Electric has a 52 week low of $80.40 and a 52 week high of $139.48. The firm has a market cap of $151.35 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.25. The firm’s 50-day simple moving average is $127.80 and its 200 day simple moving average is $118.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same quarter in the prior year, the business earned $1.24 EPS. General Electric’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts forecast that General Electric will post 4.52 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, December 28th were given a dividend of $0.08 per share. The ex-dividend date was Wednesday, December 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.23%. General Electric’s payout ratio is presently 3.82%.

General Electric Company Profile

(Free Report)

General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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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