Kornitzer Capital Management Inc. KS Has $2.19 Million Position in General Electric (NYSE:GE)

Kornitzer Capital Management Inc. KS lowered its stake in shares of General Electric (NYSE:GE) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 245,185 shares of the conglomerate’s stock after selling 31,985 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in General Electric were worth $2,192,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Cacti Asset Management LLC lifted its stake in shares of General Electric by 1.6% in the 2nd quarter. Cacti Asset Management LLC now owns 149,000 shares of the conglomerate’s stock valued at $1,550,000 after purchasing an additional 2,300 shares during the last quarter. Park National Corp OH lifted its stake in shares of General Electric by 19.4% in the 2nd quarter. Park National Corp OH now owns 1,903,454 shares of the conglomerate’s stock valued at $19,986,000 after purchasing an additional 309,755 shares during the last quarter. Anderson Hoagland & Co. lifted its stake in shares of General Electric by 32.9% in the 2nd quarter. Anderson Hoagland & Co. now owns 136,215 shares of the conglomerate’s stock valued at $1,286,000 after purchasing an additional 33,725 shares during the last quarter. BigSur Wealth Management LLC lifted its stake in shares of General Electric by 56.9% in the 2nd quarter. BigSur Wealth Management LLC now owns 49,650 shares of the conglomerate’s stock valued at $528,000 after purchasing an additional 18,000 shares during the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of General Electric by 3.8% in the 2nd quarter. DNB Asset Management AS now owns 1,758,086 shares of the conglomerate’s stock valued at $18,460,000 after purchasing an additional 64,661 shares during the last quarter. 58.97% of the stock is owned by institutional investors.

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

General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. The company had revenue of $23.36 billion for the quarter, compared to the consensus estimate of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. As a group, sell-side analysts anticipate that General Electric will post 0.61 earnings per share for the current fiscal year.

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

In related news, Director Thomas W. Horton acquired 55,248 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $9.02 per share, with a total value of $498,336.96. Following the completion of the transaction, the director now directly owns 55,248 shares of the company’s stock, valued at $498,336.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie Seidman acquired 6,500 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $7.80 per share, with a total value of $50,700.00. Following the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $50,700. The disclosure for this purchase can be found here. Insiders have bought 801,068 shares of company stock worth $6,954,745 over the last quarter. 1.13% of the stock is owned by company insiders.

Several brokerages recently commented on GE. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $10.00 target price on the stock in a report on Friday, November 1st. Royal Bank of Canada reiterated a “buy” rating and issued a $13.00 target price on shares of General Electric in a report on Wednesday, October 30th. Deutsche Bank lifted their target price on shares of General Electric from $9.00 to $11.00 in a report on Thursday, October 31st. Citigroup set a $14.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group downgraded shares of General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $13.00 to $11.50 in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $10.41.

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.

Further Reading: What does the Dow Jones Industrial Average (DJIA) measure?

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.