Franklin Street Advisors Inc. NC lowered its stake in shares of General Electric (NYSE:GE) by 7.1% during the 4th quarter, HoldingsChannel reports. The fund owned 71,560 shares of the conglomerate’s stock after selling 5,492 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in General Electric were worth $1,249,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of GE. Peak Financial Management Inc. increased its holdings in General Electric by 0.3% in the 2nd quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock worth $251,000 after buying an additional 25 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in General Electric by 0.3% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after buying an additional 67 shares during the period. NorthRock Partners LLC increased its holdings in General Electric by 0.9% in the 2nd quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock worth $241,000 after buying an additional 80 shares during the period. Shapiro Capital Management LLC increased its holdings in General Electric by 0.8% in the 2nd quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock worth $510,000 after buying an additional 147 shares during the period. Finally, CFO4Life Group LLC increased its holdings in General Electric by 0.9% in the 2nd quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock worth $449,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 56.28% of the company’s stock.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the firm’s stock in a transaction dated 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 directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.12% of the company’s stock.
GE stock opened at $13.64 on Wednesday. General Electric has a 52-week low of $13.62 and a 52-week high of $30.54. The stock has a market capitalization of $122,163.84, a P/E ratio of 13.40, a PEG ratio of 2.67 and a beta of 1.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87.
General Electric (NYSE:GE) last announced 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 negative net margin of 4.74% and a positive return on equity of 11.60%. The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter last year, the business earned $0.46 EPS. The company’s quarterly revenue was down 5.1% on a year-over-year basis. analysts expect that General Electric will post 0.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.52%. General Electric’s dividend payout ratio (DPR) is -66.67%.
Several equities analysts recently weighed in on GE shares. Vertical Research set a $18.00 price target on shares of General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. UBS assumed coverage on General Electric in a research report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price objective on the stock. TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Tigress Financial restated a “hold” rating on shares of General Electric in a research report on Thursday, December 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $11.00 price objective (down previously from $14.00) on shares of General Electric in a research report on Tuesday, March 13th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.27.
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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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