General Electric (NYSE:GE) Shares Sold by Telemus Capital LLC

Telemus Capital LLC decreased its stake in General Electric (NYSE:GE) by 17.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,986 shares of the conglomerate’s stock after selling 7,055 shares during the quarter. Telemus Capital LLC owned 380.37% of General Electric worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the stock. Peak Financial Management Inc. boosted its position in General Electric by 0.3% during the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after acquiring an additional 25 shares during the period. Cutter & CO Brokerage Inc. raised its stake in shares of General Electric by 0.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after purchasing an additional 67 shares in the last quarter. NorthRock Partners LLC raised its stake in shares of General Electric by 0.9% during the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after purchasing an additional 80 shares in the last quarter. Valmark Advisers Inc. raised its stake in shares of General Electric by 1.4% during the 2nd quarter. Valmark Advisers Inc. now owns 9,797 shares of the conglomerate’s stock worth $265,000 after purchasing an additional 138 shares in the last quarter. Finally, Shapiro Capital Management LLC raised its stake in shares of General Electric by 0.8% during the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 55.50% of the company’s stock.

Shares of General Electric (NYSE:GE) traded down $0.38 during midday trading on Friday, reaching $15.64. The company’s stock had a trading volume of 81,800,428 shares, compared to its average volume of 97,550,000. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. The company has a market cap of $135,630.00, a P/E ratio of 14.48, a P/E/G ratio of 2.93 and a beta of 0.93. General Electric has a 52 week low of $15.60 and a 52 week high of $30.59.

General Electric (NYSE:GE) last issued its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was down 5.1% on a year-over-year basis. sell-side analysts expect that General Electric will post 1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Tuesday, December 26th. General Electric’s payout ratio is presently 44.44%.

GE has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Morningstar set a $23.50 price target on General Electric and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup cut their price target on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.42.

In other news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the acquisition, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders have bought a total of 124,370 shares of company stock worth $2,245,570 in the last three months. 0.36% of the stock is owned by insiders.

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About General Electric

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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