South Dakota Investment Council grew its stake in General Electric (NYSE:GE) by 89.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,680,375 shares of the conglomerate’s stock after purchasing an additional 791,650 shares during the quarter. South Dakota Investment Council’s holdings in General Electric were worth $40,631,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Palouse Capital Management Inc. grew its stake in shares of General Electric by 1,645.7% in the second quarter. Palouse Capital Management Inc. now owns 180,836 shares of the conglomerate’s stock valued at $4,884,000 after acquiring an additional 170,477 shares in the last quarter. CAPROCK Group Inc. grew its stake in shares of General Electric by 25.9% in the second quarter. CAPROCK Group Inc. now owns 131,056 shares of the conglomerate’s stock valued at $3,571,000 after acquiring an additional 26,997 shares in the last quarter. Johnston Asset Management LLC grew its stake in shares of General Electric by 0.6% in the second quarter. Johnston Asset Management LLC now owns 701,331 shares of the conglomerate’s stock valued at $18,943,000 after acquiring an additional 4,300 shares in the last quarter. Exchange Capital Management Inc. grew its stake in shares of General Electric by 34.2% in the second quarter. Exchange Capital Management Inc. now owns 82,244 shares of the conglomerate’s stock valued at $2,221,000 after acquiring an additional 20,972 shares in the last quarter. Finally, Birmingham Capital Management Co. Inc. AL grew its stake in shares of General Electric by 0.3% in the second quarter. Birmingham Capital Management Co. Inc. AL now owns 277,355 shares of the conglomerate’s stock valued at $7,491,000 after acquiring an additional 843 shares in the last quarter. 55.17% of the stock is currently owned by institutional investors.
In other news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.36% of the company’s stock.
Shares of General Electric (NYSE GE) opened at $14.74 on Wednesday. The stock has a market cap of $127,830.00, a PE ratio of 13.65, a price-to-earnings-growth ratio of 2.86 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86. General Electric has a one year low of $14.23 and a one year high of $30.59.
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 analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. equities analysts predict that General Electric will post 0.99 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.26%. General Electric’s payout ratio is 44.44%.
GE has been the topic of several research reports. JPMorgan Chase & Co. decreased their price target on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Vertical Research set a $18.00 price target on shares of General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. UBS Group initiated coverage on shares of General Electric in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price target on the stock. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. 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 note on Tuesday, November 14th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average target price of $19.86.
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About General Electric
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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