GE's assets could collectively be worth up to $30 per share, brokerages such as Melius Research LLC have suggested, even as its shares now hover around $19 after losing 40 percent of their value year-to-date. General Electric Company had 74 analyst reports since July 21, 2015 according to SRatingsIntel.
Several other institutional investors and hedge funds have also recently modified their holdings of the company.
The event happened amid a plunging share price and as Flannery announced an "extremely painful" halving of the quarterly dividend to 12 cents a share. Vanguard Group Inc. raised its holdings in shares of General Electric by 0.6% during the 2nd quarter. Prospera Financial Services Inc increased its position in General Electric by 20.4% in the third quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate's stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. General Electric comprises about 1.1% of Gamble Jones Investment Counsel's investment portfolio, making the stock its 17th largest position. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate's stock worth $557,000 after acquiring an additional 67 shares during the last quarter. Finally, Patten & Patten Inc.
But in the wake of a collapsing share price and declining earnings, a dividend cut may actually be a good thing for General Electric. (NYSE:GE) traded up 1.57% during midday trading on Friday, reaching $31.75. Renaissance Technologies Ltd Liability Company accumulated 0.07% or 1.20M shares. The company has a market cap of $164,940.00, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 2.15 and a beta of 1.11. General Electric Co now has $177.69 billion valuation.
General Electric (GE) is cutting its share dividend for only the second time since the Great Depression of the 1930s. The company had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. North Star Investment Mgmt Corp stated it has 0% in Portland General Electric Company (NYSE:POR). General Electric's revenue was up 3.8% compared to the same quarter a year ago.
GE warned it now expects to make just $1 to $1.07 per share next year. Inv Counselors Of Maryland Limited Liability invested in 0.05% or 37,309 shares. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. This is a positive change from General Electric's previous quarterly dividend of $0.23. Creative Planning reported 0% in Portland General Electric Company (NYSE:POR).
ILLEGAL ACTIVITY WARNING: This news story was originally published by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States & worldwide copyright laws. (GE) stake by 7% reported in 2017Q2 SEC filing. Citigroup initiated the shares of GE in report on Thursday, January 21 with "Buy" rating. Peak Financial Management Inc. boosted its stake in shares of General Electric by 0.3% during the second quarter.
Among 24 analysts covering General Electric Company (NYSE:GE), 10 have Buy rating, 5 Sell and 9 Hold. Once the most valuable USA publicly traded company, GE now has a market value of US$168 billion, less than a fifth of Apple Inc. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. The company has a consensus rating of "Hold" and an average target price of $25.55. The stock was acquired at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. Following the completion of the transaction, the chairman now directly owns 2,248,688 shares in the company, valued at approximately $65,751,637.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate's stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter.