Van Hulzen Asset Management LLC reduced its stake in shares of General Electric (NYSE:GE) by 73.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 66,354 shares of the conglomerate’s stock after selling 180,803 shares during the period. Van Hulzen Asset Management LLC’s holdings in General Electric were worth $1,604,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in GE. Johnston Asset Management LLC raised its holdings 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 purchasing an additional 4,300 shares during the last quarter. Exchange Capital Management Inc. raised its holdings 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 purchasing an additional 20,972 shares during the last quarter. Birmingham Capital Management Co. Inc. AL raised its holdings 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 purchasing an additional 843 shares during the last quarter. Lee Danner & Bass Inc. raised its holdings in shares of General Electric by 6.8% in the second quarter. Lee Danner & Bass Inc. now owns 373,380 shares of the conglomerate’s stock valued at $10,085,000 after purchasing an additional 23,797 shares during the last quarter. Finally, Garland Capital Management Inc. raised its holdings in shares of General Electric by 4.0% in the second quarter. Garland Capital Management Inc. now owns 164,142 shares of the conglomerate’s stock valued at $4,433,000 after purchasing an additional 6,350 shares during the last quarter. Hedge funds and other institutional investors own 55.17% of the company’s stock.
General Electric (NYSE GE) opened at $14.49 on Thursday. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 2.09. General Electric has a 52-week low of $14.23 and a 52-week high of $30.55. The company has a market cap of $125,660.00, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ 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 company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities analysts predict that General Electric will post 0.99 EPS for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 3.31%. General Electric’s dividend payout ratio (DPR) is 44.44%.
In related news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.
A number of analysts have recently issued reports on the stock. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a report on Wednesday, January 10th. Royal Bank of Canada downgraded shares of General Electric from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $25.00 to $20.00 in a report on Tuesday, November 14th. Deutsche Bank lowered their price objective on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a report on Tuesday, November 21st. Stifel Nicolaus set a $22.00 price objective on shares of General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $14.00 price objective (down from $16.00) on shares of General Electric in a report on Monday, February 12th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $19.86.
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General Electric Company 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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