Sunday, 19 November, 2017

GE cuts dividend as it looks to 'reset'

Yasuyoshi ChibaAFP  Getty Images Yasuyoshi ChibaAFP Getty Images
Preston Stone | 14 November, 2017, 08:25

111 funds opened positions while 598 raised stakes. Tanaka Mgmt accumulated 716 shares. Altrinsic Advsrs Llc stated it has 1.18 million shares or 1.16% of all its holdings. Orrstown Financial Services Inc. increased its position in General Electric by 0.5% in the third quarter.

While GE's dividend cut was largely expected, it's still notable considering the company's status as one of the biggest dividend payers in the USA, distributing roughly $8 billion to shareholders on an annual basis. The correct version of this report can be read at https://stocknewstimes.com/2017/11/12/general-electric-company-ge-downgraded-by-stifel-nicolaus.html.

Barry Investment Advisors Llc holds 4.25% of its portfolio in Omega Healthcare Investors Inc for 341,536 shares. First Washington reported 0.09% in General Electric Company (NYSE:GE). Mesirow Financial Investment Management Us Value Equity acquired 43,495 shares as Diebold Nxdf Inc (DBD)'s stock declined 12.62%. General Electric Co. now has $171.27 billion valuation. 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 stock declined 3.61% or $0.74 reaching $19.75 on the news. Svcs Of America reported 13,125 shares. Since September 2001 - when recently retired CEO Jeff Immelt took over - GE stock has effectively been dead money, posting a negative total return even after reinvesting its juicy dividends. The 8 months bearish chart indicates high risk for the $166.37 billion company. The firm's quarterly revenue was up 11.5% on a year-over-year basis.

Insider data can help an investor form an outlook on a stock, but it's important to supplement this data with other information such as technical indicators to form a more complete view. About 210,785 shares traded or 19.76% up from the average. It has underperformed by 4.16% the S&P500.

Analysts await General Electric Company (NYSE:GE) to report earnings on January, 19. Ranger International Management Lp bought 11,052 shares as the company's stock declined 0.38% while stock markets rallied. OHI's profit will be $153.89 million for 9.02 P/E if the $0.78 EPS becomes a reality. Finally, UBS AG reissued a "sell" rating and set a $18.00 price objective (down from $21.00) on shares of General Electric in a research report on Monday, October 30th.

"Many investors own GE for the dividend, so it's disappointing, but it's also not very surprising that they had to cut", said Allianz Global Investor's Burns McKinney in a email Monday, as the company's share price slid 7.2%. Therefore 42% are positive. The rating was upgraded by Zacks to "Sell" on Wednesday, August 5. The firm has "Hold" rating given on Thursday, March 23 by BMO Capital Markets.

Michael Buble to headline BST following son Noah's cancer diagnosis
Tickets for the concert start at €89.50 and go on sale this Friday November 17th at 9am. Bublé and Lopilato are also parents to a 1-year-old son, Elias.

More news for Portland General Electric Company (NYSE:POR) were recently published by: Businesswire.com, which released: "PCI Provides Integrated Platform for Portland General Electric Company's ..." on October 24, 2017. Morgan Stanley has "Equal-Weight" rating and $25 target. On Friday, July 22 the stock rating was initiated by Standpoint Research with "Sell".

General Electric's stock rose about 1% in pre-market trading Monday.

Boston-based General Electric said Monday that it will cut its quarterly dividend in half, a move its chief executive says is aimed at fostering growth. More interesting news about General Electric Company (NYSE:GE) were released by: Seekingalpha.com and their article: "GE plans focus on three key units" published on November 13, 2017 as well as Forbes.com's news article titled: "General Electric Company May Spin-Off Transportation Division" with publication date: November 01, 2017. New York-based Taurus Asset Lc has invested 1.21% in General Electric Company (NYSE:GE). The company has market cap of $5.55 billion.

All this is part of GE's mission to focus on being a modern industrial company that sells things like jet engines, power plants and MRI machines.

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