Bourgeon Capital Management LLC increased its stake in General Electric (NYSE:GE) by 85.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,785 shares of the conglomerate’s stock after acquiring an additional 18,740 shares during the period. Bourgeon Capital Management LLC owned approximately 0.06% of General Electric worth $986,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. lifted its stake in General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. BlackRock Inc. lifted its stake in General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital Research Global Investors lifted its stake in General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Boston Partners lifted its stake in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in General Electric by 1,011.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares during the last quarter. Institutional investors and hedge funds own 55.63% of the company’s stock.
GE has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of General Electric in a research note on Thursday, October 12th. JPMorgan Chase & Co. cut their target price on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Vetr raised shares of General Electric from a “strong sell” rating to a “sell” rating and set a $21.74 target price for the company in a research note on Tuesday, October 10th. Citigroup set a $25.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, Goldman Sachs Group set a $22.00 price target on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.19.
Shares of General Electric (NYSE GE) opened at $19.02 on Friday. 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 company has a market cap of $164,940.00, a P/E ratio of 22.12, a P/E/G 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 $31.47.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. research analysts forecast that General Electric will post 1.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.52%. General Electric’s dividend payout ratio is presently 55.81%.
In related news, Chairman John Leonard Flannery acquired 60,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. Mollenkopf acquired 5,500 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the purchase, the director now owns 5,500 shares in the company, valued at approximately $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 120,500 shares of company stock worth $2,183,220. Company insiders own 0.36% of the company’s stock.
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