General Electric plans to slice quarterly dividend in half

General Electric to slice up its empire

Rothschild Asset Management Inc says it bought 41,204 shares last quarter increasing its holdings in Portland General Electric Company by 7.7%.

As CNN reports, "GE is one of America's most widely held stocks, and countless shareholders, including retirees, rely on the dividend payments". Chicago Partners Investment Group LLC's holdings in General Electric were worth $649,000 at the end of the most recent quarter. It also reduced its holding in Citrix Sys Inc (NASDAQ:CTXS) by 45,656 shares in the quarter, leaving it with 11,255 shares, and cut its stake in Cvs Health Corp (NYSE:CVS). Hancock Communications has 0.04% invested in General Electric Company (NYSE:GE) for 34,615 shares.

From the start of 2016 through October 2017, a Goldman Sachs-curated basket of stocks spending the most on capex and research and development beat a similarly constructed index of companies offering high dividends and buybacks by a whopping 21 percentage points, according to the company's data. Orrstown Financial Services Inc. increased its position in General Electric by 0.5% in the third quarter. Finally, Northwest Wealth Management LLC raised its position in General Electric by 0.8% during the 2nd quarter. Blackrock owns 0.01% invested in Ebix Inc (NASDAQ:EBIX) for 2.70M shares. Institutional investors and hedge funds own 54.29% of the company's stock. Private Trust Co acquired 15,290 shares as General Electric Co. The stock has a market capitalization 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 expects to dispose of its Transportation business unit over the next two years, along with its Industrial Solutions and Lighting activities, new CEO John Flannery confirmed on November 13. On average, equities research analysts forecast that General Electric Co. will post $1.49 EPS for the current year.

General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.20). The stock then reversed into negative territory, falling roughly 5% during regular trading after the company provided revised earnings guidance that fell short of Wall Street analysts' expectations. The business's revenue for the quarter was up 11.5% compared to the same quarter a year ago. Blackrock Inc invested in 1.50 million shares or 0% of the stock. "While credit analysts will likely welcome the cut to GE's dividend, the company also laid out a framework of still hard cash generation over the next 2 years". GE plunged 8% on Monday, to the lowest level in five and a half years, after the company announced the restructuring and diminished financial targets. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, September 15th. General Electric's payout ratio is presently 111.63%.


Pacad Investment Ltd increased its stake in General Electric Co (GE) by 195.6% based on its latest 2017Q2 regulatory filing with the SEC. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of global trademark and copyright laws. Commonwealth Equity Serv Inc owns 35,885 shares.

GE also plans to cut 25 percent of corporate staff at its Boston headquarters. General Electric Company had 74 analyst reports since July 21, 2015 according to SRatingsIntel.

Inch reiterated his sell rating and $18 price target for General Electric shares. RBC Capital Markets has "Buy" rating and $3500 target.

Among 24 analysts covering General Electric Company (NYSE:GE), 10 have Buy rating, 5 Sell and 9 Hold.

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