GE Layoffs: General Electric Company to Cut 12000 Jobs

GE Layoffs: General Electric Company to Cut 12000 Jobs

GE Layoffs: General Electric Company to Cut 12000 Jobs

It is negative, as 85 investors sold GE shares while 816 reduced holdings. 111 funds opened positions while 598 raised stakes. The stock of General Electric Company (NYSE:GE) earned "Hold" rating by CFRA on Friday, July 21. Stockholders of record on Friday, November 10th will be paid a dividend of $0.62 per share. First Tru Advisors Ltd Partnership stated it has 646,361 shares. American Electric Power Company, Inc. GE officials announced plans to cut $3.5 billion this year and next year as part of a broader effort across the conglomerate to improve its financial performance. Oppenheimer maintained Citigroup Inc. Charter Trust Communication holds 0.03% or 3,925 shares. Dimensional Fund Advsrs Lp reported 21.24 million shares. Gabelli Funds Ltd Liability Corp reported 819,500 shares stake. Bedell Frazier Inv Counseling Lc owns 276,223 shares or 2.72% of their USA portfolio. Gillespie Robinson And Grimm owns 37,360 shares or 0.14% of their United States portfolio. The insider now holds 56,834 shares of American Electric Power Company, Inc. Cacti Asset Mgmt reported 91,650 shares. Hexavest Inc holds 126,408 shares.

The cuts follow another 6500 cuts in the power business that GE announced past year, shortly after the Alston purchase closed.

According to American Electric Power Company, Inc.'s latest 13F filing with the US Securities and Exchange Commission (SEC), institutional ownership is at 71.35%.

In related news, Director Steven M. Mollenkopf acquired 5,500 shares of the company's stock in a transaction dated Thursday, November 16th.

The Washington Trust Company holds 301,975 shares with $8.16M value, down from 784,951 last quarter. The company has market cap of $57.37 million.

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General Electric Company (NYSE:GE) traded down $0.10 during midday trading on Thursday, hitting $17.66. Gm Advisory Gru Incorporated Inc stated it has 0.19% of its portfolio in American Electric Power Company, Inc. It has underperformed by 16.70% the S&P500. Sound Shore Mgmt Ct holds 2.85% or 6.44M shares in its portfolio. Heightened Asian competition had also increased price pressures.

Analysts await General Electric Company (NYSE:GE) to report earnings on January, 19. They expect $0.28 earnings per share, down 39.13% or $0.18 from last year's $0.46 per share. AEP's profit will be $373.83 million for 25.24 P/E if the $0.76 EPS becomes a reality. After $0.48 actual EPS reported by Core Laboratories N.V. for the previous quarter, Wall Street now forecasts 20.83% EPS growth. Inv Centers Of America stated it has 0.1% of its portfolio in American Electric Power Company, Inc. (NYSE:AEP) news was published by which published an article titled: "American Electric Power Company, Inc".

American Electric Power Company, Inc (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. Therefore 40% are positive. American Electric Power Company Inc. has $83.0 highest and $7 lowest target.

Among 5 analysts covering Safecharge International Group (LON:SCH), 4 have Buy rating, 0 Sell and 1 Hold. General Electric Company had 78 analyst reports since July 21, 2015 according to SRatingsIntel. Analyzing the last five market sessions, the stock was able to report -1.16% losses, thus going up by 5%, compared with its 200-day moving average of $146.49. Wells Fargo & Company MN increased its position in American Electric Power by 1.3% during the 2nd quarter. The rating was maintained by Canaccord Genuity on Wednesday, May 18 with "Buy". Deutsche Bank maintained the shares of AEP in report on Tuesday, August 25 with "Buy" rating. BMO Capital Markets maintained the stock with "Hold" rating in Friday, October 6 report.

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