Truepoint Inc. boosted its position in shares of General Electric (NYSE:GE) by 2,010.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,086,675 shares of the conglomerate’s stock after purchasing an additional 1,035,190 shares during the quarter. General Electric comprises about 0.1% of Truepoint Inc.’s portfolio, making the stock its 28th biggest position. Truepoint Inc.’s holdings in General Electric were worth $1,087,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank lifted its position in General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after acquiring an additional 593,686 shares during the period. Palouse Capital Management Inc. lifted its position in General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after acquiring an additional 9,755 shares during the period. Destination Wealth Management lifted its position in General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after acquiring an additional 41,100 shares during the period. Boston Partners lifted its position in General Electric by 2.5% during the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock worth $352,756,000 after acquiring an additional 360,154 shares during the period. Finally, Berkshire Asset Management LLC PA lifted its position in General Electric by 4.0% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock worth $23,177,000 after acquiring an additional 36,870 shares during the period. Institutional investors and hedge funds own 56.28% of the company’s stock.
In related news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.12% of the company’s stock.
A number of brokerages have commented on GE. TheStreet cut General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $11.00 price objective (down previously from $14.00) on shares of General Electric in a research note on Tuesday, March 13th. UBS set a $16.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Wednesday, March 7th. Stifel Nicolaus reduced their price objective on General Electric from $18.00 to $17.00 and set a “hold” rating for the company in a research note on Tuesday, January 30th. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $16.00 price objective on shares of General Electric in a research note on Tuesday, February 27th. 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 given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.27.
Shares of General Electric (NYSE GE) opened at $13.35 on Friday. General Electric has a 52 week low of $13.32 and a 52 week high of $30.54. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $120,514.16, a P/E ratio of -18.54, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The firm had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. General Electric’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. equities analysts anticipate that General Electric will post 0.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is currently -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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