Richard C. Young & CO. LTD. cut its stake in General Electric (NYSE:GE) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270,189 shares of the conglomerate’s stock after selling 19,864 shares during the period. Richard C. Young & CO. LTD.’s holdings in General Electric were worth $6,533,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. Iberiabank Corp raised its holdings in shares of General Electric by 55.6% during the 3rd quarter. Iberiabank Corp now owns 351,527 shares of the conglomerate’s stock worth $8,379,000 after buying an additional 125,599 shares in the last quarter. Garland Capital Management Inc. raised its holdings in shares of General Electric by 1.9% during the 3rd quarter. Garland Capital Management Inc. now owns 167,330 shares of the conglomerate’s stock worth $4,046,000 after buying an additional 3,188 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of General Electric by 8.8% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 704,123 shares of the conglomerate’s stock worth $17,026,000 after buying an additional 57,122 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of General Electric by 3.4% during the 3rd quarter. Legal & General Group Plc now owns 43,631,023 shares of the conglomerate’s stock worth $1,054,994,000 after buying an additional 1,422,648 shares in the last quarter. Finally, Staley Capital Advisers Inc. raised its holdings in shares of General Electric by 32.4% during the 3rd quarter. Staley Capital Advisers Inc. now owns 52,658 shares of the conglomerate’s stock worth $1,273,000 after buying an additional 12,895 shares in the last quarter. 55.17% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Alexander Dimitrief purchased 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.
A number of equities analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $15.00 price target on shares of General Electric in a report on Friday, February 16th. Barclays assumed coverage on General Electric in a report on Thursday, February 15th. They set an “equal weight” rating and a $16.00 price target for the company. Vertical Research set a $16.00 price target on General Electric and gave the stock a “hold” rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $14.00 price target (down previously from $16.00) on shares of General Electric in a report on Monday, February 12th. Finally, Deutsche Bank reissued a “sell” rating and set a $13.00 price target (down previously from $15.00) on shares of General Electric in a report on Thursday, February 8th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.80.
General Electric (GE) opened at $14.49 on Friday. General Electric has a fifty-two week low of $14.23 and a fifty-two week 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 capitalization of $125,658.51, a PE ratio of 13.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.93.
General Electric (NYSE:GE) last issued its earnings results 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). 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 analyst estimates of $33.93 billion. During the same period in the previous year, the company earned $0.46 EPS. General Electric’s revenue for the quarter was down 5.1% on a year-over-year basis. equities analysts forecast that General Electric will post 0.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. General Electric’s dividend payout ratio (DPR) is presently -66.67%.
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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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