Needelman Asset Management Inc Lowers stake in General Electric Company (GE)

by Ben Pena October 15, 2016, 0:44
Needelman Asset Management Inc Lowers stake in General Electric Company (GE)

(NYSE:EMR) for 6,517 shares. For the past 5 years, the company's revenue has grown 8.2%, while the company's earnings per share has grown 27.8%. Plancorp Llc who had been investing in Emerson Elec Co for a number of months, seems to be less bullish one the $32.31 billion market cap company. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.46 by $0.05.

There are now 8,961,233,000 shares in issue with a current share value of 28.89 giving General Electric Company a market capitalisation of 258.89B United States dollars.

5 year sales growth rate is an important factor for valuation analysis, the 5 year sales growth of General Electric Company (NYSE:GE) stands at -4.73 while the industry's and the sector's growth for next 5 years ticked at 4.73 and 6.61 respectively. Following the acquisition, the chairman now owns 2,198,688 shares of the company's stock, valued at $69,148,737.60. Sanford C. Bernstein now has a $34.00 target price on the stock. Bank of America Corp. reiterated a "buy" rating and issued a $37.00 price target on shares of General Electric in a report on Thursday, October 6th.

Emerson Electric Co. (NYSE:EMR) has a mean revenue estimate for the ongoing quarter ending Sep 16 of $5.35B, according to 20 analysts. The heightened volatility saw the trading volume jump to 3,09,42,235 shares. General Electric Company makes up approx 0.23% of Creative Planning's portfolio.Legacy Private Trust reduced its stake in GE by selling 11,011 shares or 9.56% in the most recent quarter. Additionally the company declared a dividend for shareholders paid on Monday the 25th of July 2016. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.18%. Over the same time span, the stock marked US$56.82 as its best level and the lowest price reached was US$41.25. The average analysts gave this company a mean recommendation of 2.00. General Electric's dividend payout ratio is now 77.97%. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Shelter Mutual Company owns 136,970 shares or 2.17% of their U.S. portfolio. Balentine LLC now owns 5,936 shares of the company's stock worth $187,000 after buying an additional 2,277 shares during the period. Catamount Wealth Management increased its position in General Electric by 35.3% in the first quarter. Catamount Wealth Management now owns 3,451 shares of the company's stock valued at $110,000 after buying an additional 901 shares during the last quarter. Cable Hill Partners LLC now owns 4,447 shares of the company's stock valued at $141,000 after buying an additional 19 shares during the last quarter. Global X Management Co.

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U.S. based company, Emerson Electric Co.'s (EMR)'s latest closing price was -1.66% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at -5.07% and -4.00% compared with the 20 Day Moving Average.

05/12/2014 - Korea Electric Power Corporation was downgraded to "neutral" by analysts at Credit Suisse. Horizon Investments LLC now owns 7,832 shares of the company's stock worth $247,000 after buying an additional 36 shares during the last quarter.

Hedge funds have recently modified their holdings of the company. The company is set at a mean analysts' recommendation of 3.10.

As of the end of the quarter Bristlecone Advisors, LLC had disposed of 15,370 shares trimming its stake by 60.2%. Finally, Allegis Investment Advisors LLC raised its stake in shares of General Electric by 0.5% in the second quarter.

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