North Star Asset Management Inc. raised its stake in General Electric (NYSE:GE) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,106 shares of the conglomerate’s stock after purchasing an additional 13,399 shares during the period. North Star Asset Management Inc. owned 0.47% of General Electric worth $9,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of GE. MPS Loria Financial Planners LLC acquired a new stake in shares of General Electric during the second quarter worth about $113,000. Ffcm LLC acquired a new stake in shares of General Electric during the second quarter worth about $114,000. Corbenic Partners LLC lifted its holdings in shares of General Electric by 15.7% during the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new stake in shares of General Electric during the third quarter worth about $164,000. Finally, Tuttle Tactical Management LLC acquired a new stake in shares of General Electric during the second quarter worth about $209,000. Institutional investors and hedge funds own 55.63% of the company’s stock.
Shares of General Electric (NYSE GE) opened at $18.93 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market capitalization of $164,080.00, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07. General Electric has a 12-month low of $17.25 and a 12-month high of $31.62.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period in the prior year, the business earned $0.32 EPS. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts expect that General Electric will post 1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.54%. General Electric’s dividend payout ratio is presently 55.81%.
A number of equities research analysts recently commented on the company. Vetr downgraded General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price for the company. in a report on Monday, September 25th. Credit Suisse Group reaffirmed an “outperform” rating and set a $30.00 target price (down previously from $33.00) on shares of General Electric in a report on Thursday, October 5th. JPMorgan Chase & Co. set a $22.00 target price on General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Morgan Stanley decreased their price target on General Electric from $26.00 to $25.00 and set an “equal weight” rating for the company in a report on Monday, October 2nd. Finally, Argus decreased their price target on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.19.
In related news, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was bought at an average cost of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $18.24 per share, with a total value of $100,320.00. Following the completion of the transaction, the director now directly owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock worth $2,183,220 in the last 90 days. 0.36% of the stock is currently owned by company insiders.
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