Lantz Financial LLC Decreases Stake in General Electric (NYSE:GE)

Lantz Financial LLC reduced its position in shares of General Electric (NYSE:GE) by 3.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,712 shares of the conglomerate’s stock after selling 1,448 shares during the period. Lantz Financial LLC’s holdings in General Electric were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in GE. Hills Bank & Trust Co. boosted its holdings in General Electric by 34.9% in the third quarter. Hills Bank & Trust Co. now owns 49,280 shares of the conglomerate’s stock valued at $441,000 after acquiring an additional 12,752 shares during the last quarter. Zeke Capital Advisors LLC boosted its holdings in General Electric by 11.5% in the third quarter. Zeke Capital Advisors LLC now owns 1,150,336 shares of the conglomerate’s stock valued at $10,284,000 after acquiring an additional 118,572 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new position in General Electric in the third quarter valued at approximately $343,000. Merriman Wealth Management LLC lifted its stake in General Electric by 12.4% in the third quarter. Merriman Wealth Management LLC now owns 13,959 shares of the conglomerate’s stock valued at $125,000 after buying an additional 1,536 shares during the period. Finally, Fulton Breakefield Broenniman LLC acquired a new position in General Electric in the third quarter valued at approximately $108,000. Institutional investors own 58.97% of the company’s stock.

In related news, Director Leslie Seidman acquired 6,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $7.80 per share, with a total value of $50,700.00. Following the acquisition, the director now owns 6,500 shares of the company’s stock, valued at approximately $50,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paula Rosput Reynolds acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were bought at an average cost of $9.05 per share, for a total transaction of $45,250.00. Following the acquisition, the director now directly owns 16,500 shares in the company, valued at approximately $149,325. The disclosure for this purchase can be found here. Insiders have bought a total of 801,068 shares of company stock valued at $6,954,745 in the last quarter. 1.13% of the stock is owned by corporate insiders.

GE has been the topic of several recent analyst reports. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $10.00 price target on the stock in a research note on Friday, November 1st. Citigroup set a $14.00 price target on General Electric and gave the company a “buy” rating in a research note on Wednesday, September 4th. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Friday, August 16th. UBS Group lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $13.00 to $11.50 in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. set a $5.00 target price on General Electric and gave the stock an “underweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $10.41.

NYSE:GE traded up $0.23 during trading on Friday, reaching $11.52. The company’s stock had a trading volume of 61,022,582 shares, compared to its average volume of 60,476,536. The firm has a market cap of $100.61 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13. The company has a debt-to-equity ratio of 2.67, a quick ratio of 1.60 and a current ratio of 1.84. The firm has a 50 day moving average of $9.25 and a 200-day moving average of $9.58. General Electric has a 12 month low of $6.66 and a 12 month high of $11.75.

General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $23.36 billion during the quarter, compared to the consensus estimate of $22.93 billion. General Electric had a positive return on equity of 11.69% and a negative net margin of 4.39%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Equities research analysts forecast that General Electric will post 0.61 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Monday, September 16th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, September 13th. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. General Electric’s payout ratio is 6.15%.

About General Electric

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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