Rare General Electric payout cut

15 November, 2017, 01:25 | Author: Terri Saunders
  • GE Healthcare CEO John Flannery

But the quarterly dividend will be cut in half to 12 United States cents a share. The company has market cap of $5.55 billion.

In related news, Director James S. Tisch bought 100,000 shares of General Electric stock in a transaction dated Tuesday, August 22nd. General Electric Co. now has $171.27 billion valuation. It has underperformed by 4.60% the S&P500. The correct version of this report can be read at https://www.truebluetribune.com/2017/11/14/chicago-partners-investment-group-llc-lowers-stake-in-general-electric-company-ge.html. The institutional investor held 547,065 shares of the consumer electronics and appliances company at the end of 2017Q2, valued at $14.78M, up from 185,071 at the end of the previous reported quarter.

Other large investors also recently modified their holdings of the company. It closed at $1.62 lastly. Ebix Inc (NASDAQ:EBIX) has risen 21.95% since November 14, 2016 and is uptrending. It has outperformed by 25.57% the S&P500.

Investors sentiment decreased to 0.79 in 2017 Q2. Its down 0.03, from 0.82 in 2017Q1. Hall Laurie J Trustee stated it has 314,021 shares or 0.01% of all its holdings. 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. General Electric Company (NYSE:GE)'s short interest is 101.48 million shares, or % of the float. The stock of General Electric Company (NYSE:GE) has "Focus List" rating given on Wednesday, September 16 by Credit Suisse. Kentucky-based Town Country Bancorp Company Dba First Bankers Company has invested 2.12% in General Electric Company (NYSE:GE). General Electric has a twelve month low of $18.75 and a twelve month high of $32.38. American International Group Inc grew its investment by buying 4,486 shares an increase of 8.1% as of 09/30/2017. Proshare Advsrs Limited Liability holds 163,872 shares or 0.07% of its portfolio. Moreover, Duff Phelps Mngmt Com has 0.04% invested in General Electric Company (NYSE:GE). Products Prns Ltd Company has 0.06% invested in Ebix Inc (NASDAQ:EBIX). Therefore 44% are positive.

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"This dividend cut will be a major disappointment to GE's (roughly 40 percent) retail shareholder base", said RBC Capital Markets analyst Deane Dray. The stock has "Buy" rating by Citigroup on Thursday, January 21. JP Morgan maintained General Electric Company (NYSE:GE) rating on Wednesday, November 1. The company was maintained on Monday, September 11 by Deutsche Bank. The firm earned "Hold" rating on Thursday, March 23 by BMO Capital Markets. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. JP Morgan has "Underweight" rating and $17 target. 1 of these were buys and 12 were sells. Bernstein downgraded the shares of GE in report on Monday, April 4 to "Market Perform" rating.

General Electric (NYSE:GE) last released its earnings results on Friday, October 20th.

General Electric Co said on Monday it will narrow its focus to power, healthcare and aviation business, and set an earnings target between $1.00 and $1.07 per share for next year, a drop from its earlier forecast, the company said on Monday. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate's stock valued at $319,000 after purchasing an additional 36 shares during the last quarter. The total value of these holdings, in millions, is $98,032. 5 funds opened positions while 14 raised stakes. Lau Ltd Llc holds 1.42% or 65,629 shares. Art Llc reported 0% stake. Steinberg Asset Mngmt has invested 0.03% of its portfolio in Ebix Inc (NASDAQ:EBIX). Creative Planning holds 191,177 shares or 0% of its portfolio. Amg Tru Retail Bank accumulated 0.2% or 101,238 shares. About 56,413 shares traded. Neumann Capital Mgmt Ltd Liability owns 132,480 shares or 2.3% of their USA portfolio. During the same period last year, the company posted $0.32 earnings per share. research analysts anticipate that General Electric Company will post 1.06 earnings per share for the current year. Northern Tru, a Illinois-based fund reported 457,809 shares.

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