Jackson Wealth Management LLC purchased a new position in shares of General Electric (NYSE:GE) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 12,375 shares of the conglomerate’s stock, valued at approximately $289,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares during the period. BlackRock Inc. raised its position in 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 acquiring an additional 19,422,516 shares during the period. Capital World Investors raised its position in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares during the period. Capital Research Global Investors raised its position in 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 acquiring an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. raised its position in 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 acquiring an additional 23,764,129 shares during the period. Institutional investors and hedge funds own 55.17% of the company’s stock.
Shares of General Electric (GE) opened at $14.62 on Friday. General Electric has a 12-month low of $14.23 and a 12-month high of $30.54. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. The stock has a market cap of $125,658.51, a P/E ratio of -20.31, a PEG ratio of 2.75 and a beta of 0.93.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. sell-side analysts expect that General Electric will post 0.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
GE has been the topic of several research reports. UBS Group reaffirmed a “sell” rating and issued a $18.00 price objective (down previously from $21.00) on shares of General Electric in a research report on Monday, October 30th. Vetr raised shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective on the stock in a research report on Monday, October 30th. JPMorgan Chase & Co. lowered their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. 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 7th. Finally, Cowen reissued a “hold” rating and issued a $19.00 price target on shares of General Electric in a research report on Wednesday, November 8th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.86.
In other news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction that occurred 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 acquisition, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.
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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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