Published: Tue, November 14, 2017
Finance | By Loren Pratt

GE slashes quarterly dividend

GE slashes quarterly dividend

Private Trust Co acquired 15,290 shares as General Electric Co. It also reduced its holding in Colony Northstar Inc.by 43,500 shares in the quarter, leaving it with 39,285 shares, and cut its stake in Dow Chemical (NYSE:DOW). The fund owned 19,667 shares of the company's stock after selling 144 shares during the period. Davenport And Co Limited Co reported 0% of its portfolio in General Electric Company (NYSE:GE). 111 funds opened positions while 598 raised stakes.

The dividend cut, to 48 USA cents from 96 United States cents next year, is only the third in the company's 125-year history and the first not during a broader financial crisis. BlackRock Inc. grew its position in shares of General Electric by 3.9% during the 2nd quarter. Regentatlantic Capital LLC now owns 5,825 shares of the company's stock valued at $266,000 after buying an additional 245 shares in the last quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate's stock worth $319,000 after acquiring an additional 36 shares during the last quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate's stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares in the last quarter. Parametric Assocs Limited Liability Company holds 361,096 shares or 0.02% of its portfolio. General Electric Co now has $177.69 billion valuation. (NYSE:GE) traded up 1.57% during midday trading on Friday, reaching $31.75. But the company's disastrous 2017 has boosted the yield to nearly 5% as shares have dropped below $20. Many companies are increasing them because the USA economy is healthy and the stock market is booming. Opus Investment Management Inc sold 10,000 shares as Portland General Electric Co. The company had revenue of C$515.00 million for the quarter, compared to analyst estimates of C$497.85 million. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company's quarterly revenue was up 6.4% on a year-over-year basis. The company cut its quarterly dividend from $0.31 per share to just $0.10 per share.

In October GE posted disappointing earnings per share of 29 cents, while analysts polled by Reuters expected a profit of 49 cents a share.


The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Should Stay in Your Portfolio" published on October 17, 2017 as well as Fool.ca's news article titled: "BCE Inc.: "A Wide Moat and a Great Dividend Make This a Buy" with publication date: "October 27, 2017. It has five natural gas-fired generating facilities, which include Port Westward Unit 1, Port Westward Unit 2 (PW2), Beaver natural gas-fired generating plant (Beaver), Coyote Springs Unit 1 (Coyote Springs) and Carty natural gas-fired generating plant (Carty). General Electric Company has $67 highest and $17 lowest target. The original version of this report can be accessed at markets/1892649/general-electric-co-ge-stake-lowered-by-elm-advisors-llc.html. (POR) stake by 8.43% reported in 2017Q2 SEC filing. After $0.44 actual EPS reported by Portland General Electric Company for the previous quarter, Wall Street now forecasts 47.73% EPS growth. General Electric Co.is expected to announce other plans, including a possible restructuring, later Monday.

GE also said it will hold an investor update at 9 a.m. Monday. General Electric Company had 74 analyst reports since July 21, 2015 according to SRatingsIntel. Barclays Capital has "Underweight" rating and $37 target. They issued a neutral rating and a $45.00 target price for the company. The stock of General Electric Company (NYSE:GE) earned "Buy" rating by TheStreet on Tuesday, July 21. About 210,785 shares traded or 19.76% up from the average. 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. Analysts study insider data to get a sense of sense of what key shareholders think about the outlook for a particular stock.

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