Stelac Advisory Services LLC raised its stake in shares of General Electric (NYSE:GE) by 32.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,659 shares of the conglomerate’s stock after purchasing an additional 8,400 shares during the period. Stelac Advisory Services LLC’s holdings in General Electric were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares during the period. BlackRock Inc. raised its holdings in shares of General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares during the period. Capital Research Global Investors raised its holdings in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares during the period. Boston Partners raised its holdings in shares of General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after buying an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of General Electric by 1,011.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after buying an additional 13,315,605 shares during the period. Institutional investors and hedge funds own 55.17% of the company’s stock.
General Electric (NYSE:GE) opened at $15.05 on Monday. General Electric has a 52 week low of $14.23 and a 52 week high of $30.59. The stock has a market capitalization of $130,514.88, a P/E ratio of -20.90, a P/E/G ratio of 2.86 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. During the same period last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. analysts expect that General Electric will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.19%. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
GE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, November 1st. Morningstar set a $23.50 price target on General Electric and gave the stock a “buy” rating in a report on Tuesday, January 23rd. Citigroup reduced their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 price target on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus target price of $19.86.
In related news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.36% of the stock is currently owned by company insiders.
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General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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