Shamrock Asset Management LLC lessened its position in shares of General Electric (NYSE:GE) by 75.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,841 shares of the conglomerate’s stock after selling 20,666 shares during the quarter. Shamrock Asset Management LLC’s holdings in General Electric were worth $119,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its stake in General Electric by 4,215.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock valued at $1,308,727,000 after purchasing an additional 52,870,164 shares during the last quarter. Franklin Resources Inc. raised its stake in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. BlackRock Inc. raised its stake in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital Research Global Investors raised its stake in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in General Electric by 1,011.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares during the last quarter. 56.30% of the stock is owned by institutional investors and hedge funds.
GE opened at $13.06 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The stock has a market capitalization of $116,607.00, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. General Electric has a 12 month low of $12.73 and a 12 month high of $30.54.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. sell-side analysts forecast that General Electric will post 0.96 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is 45.71%.
In other General Electric news, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction on Monday, January 29th. The stock was bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by insiders.
GE has been the subject of several analyst reports. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Monday, December 11th. Tigress Financial reissued a “hold” rating on shares of General Electric in a research note on Thursday, December 28th. JPMorgan Chase reissued a “sell” rating and issued a $16.00 target price (down previously from $17.00) on shares of General Electric in a research note on Monday, January 8th. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a research note on Wednesday, January 10th. Finally, Deutsche Bank reissued a “sell” rating and issued a $15.00 target price on shares of General Electric in a research note on Wednesday, January 17th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $18.09.
TRADEMARK VIOLATION NOTICE: This news story was originally posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another website, it was illegally copied and republished in violation of US & international trademark & copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/04/07/general-electric-ge-holdings-reduced-by-shamrock-asset-management-llc.html.
General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.