ibusinesslines.com March 23, 2018

General Electric halves dividend for shareholders

14 November 2017, 06:26 | Kelvin Horton

Yasuyoshi ChibaAFP Getty Images

Yasuyoshi ChibaAFP  Getty Images

About 7.96 million shares traded or 91.35% up from the average. General Electric Company (NYSE:GE) has declined 4.46% since November 11, 2016 and is downtrending. It has underperformed by 4.16% the S&P500.

The Relative Volume of the company is 0.89 and Average Volume (3 months) is 56.58 million.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Pacad Investment Ltd who had been investing in General Electric Co for a number of months, seems to be bullish on the $177.69 billion market cap company. The stock increased 0.53% or $0.26 on November 10, reaching $48.22. It is down 12.10% since November 13, 2016 and is uptrending. It has underperformed by 8.15% the S&P500. The person said the job cuts focused mostly on corporate functions like GE's global research center and its global growth organization, which promotes worldwide sales. BPI's SI was 804,500 shares in November as released by FINRA. The ex-dividend date of this dividend was Friday, September 15th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Therefore 50% are positive. BlackRock Inc. now owns 517,315,514 shares of the conglomerate's stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. The rating was maintained by JP Morgan on Monday, October 30 with "Neutral". Kcm Invest Advsr Ltd Liability has invested 1.21% in General Electric Company (NYSE:GE). Bank of America downgraded the shares of POR in report on Tuesday, November 22 to "Underperform" rating. The rating was maintained by JP Morgan on Thursday, October 12 with "Neutral".

Ranger International Management Lp, which manages about $535.99M and $21.94 million US Long portfolio, decreased its stake in Lyondellbasell Inds Nv (NYSE:LYB) by 10,020 shares to 4,795 shares, valued at $405,000 in 2017Q2, according to the filing.

Investors sentiment decreased to 0.79 in 2017 Q2.

GE also will cut spending on the digital unit to $1.1 billion in 2018 from $1.5 billion in 2017. It improved, as 20 investors sold POR shares while 75 reduced holdings.

Other hedge funds also recently added to or reduced their stakes in the company. Creative Planning reported 0% in Portland General Electric Company (NYSE:POR). Gam Holdg Ag invested in 160,236 shares. Cibc World Incorporated reported 1.09M shares.

The dividend cut is only GE's second since the Great Depression and continues new CEO John Flannery's push to aggressively confront the challenges facing the company. Toth Fincl Advisory Corporation owns 256,881 shares for 1.81% of their portfolio. Adage Capital Ptnrs Limited Liability owns 17.66M shares. Moreover, Regentatlantic Lc has 0.02% invested in Portland General Electric Company (NYSE:POR). Finally, BidaskClub downgraded shares of General Electric from a "sell" rating to a "strong sell" rating in a research report on Wednesday, June 28th. Prospera Financial Services Inc increased its position in General Electric by 20.4% in the third quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate's stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Cambridge Inv Rech Inc has 1.44 million shares for 0.57% of their portfolio. The company had revenue of $33.47 billion for the quarter, compared to analysts' expectations of $32.51 billion. For the next 5 years, General Electric Company is expecting Growth of 9.32% per annum, whereas in the past 5 years the growth was -5.02% per annum. As per Friday, April 21, the company rating was maintained by Cowen & Co. Barclays Capital has "Underweight" rating and $37 target. The rating was maintained by S&P Research with "Buy" on Monday, August 17. Bangor Commercial Bank, a Maine-based fund reported 59,596 shares. Businesswire.com's article titled: "PCI Provides Integrated Platform for Portland General Electric Company's ..." and published on October 24, 2017 is yet another important article. The rating was maintained by Keefe Bruyette & Woods with "Hold" on Friday, May 26.

While looking at the Stock's Performance, General Electric Company now shows a Weekly Performance of 0.25%, where Monthly Performance is -13.35%, Quarterly performance is -20.67%, 6 Months performance is -29.29% and yearly performance percentage is -32.53%.

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