First Manhattan Co. decreased its position in shares of General Electric (NYSE:GE) by 56.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,421,730 shares of the conglomerate’s stock after selling 1,807,869 shares during the period. First Manhattan Co.’s holdings in General Electric were worth $24,809,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of GE. Ffcm LLC purchased a new position in General Electric in the second quarter worth about $114,000. MPS Loria Financial Planners LLC purchased a new position in General Electric in the second quarter worth about $113,000. Corbenic Partners LLC grew its position in General Electric by 15.7% in the second quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in General Electric in the third quarter worth about $164,000. Finally, Ashford Capital Management Inc. purchased a new position in General Electric in the second quarter worth about $227,000. Hedge funds and other institutional investors own 56.30% of the company’s stock.
General Electric stock opened at $13.06 on Friday. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32. General Electric has a fifty-two week low of $12.73 and a fifty-two week high of $30.54. The company has a market cap of $115,304.61, a PE ratio of 12.44, a P/E/G ratio of 2.58 and a beta of 1.02.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue was down 5.1% on a year-over-year basis. sell-side analysts predict that General Electric will post 0.96 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio is presently 45.71%.
In related news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the completion of the purchase, 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 SEC, which is accessible through this link. Insiders own 1.12% of the company’s stock.
Several research analysts recently commented on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $15.00 price target on shares of General Electric in a research report on Thursday. Stifel Nicolaus dropped their price target on General Electric from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Tuesday. Citigroup reiterated a “buy” rating on shares of General Electric in a research report on Tuesday. DZ Bank reiterated a “sell” rating on shares of General Electric in a research report on Tuesday. Finally, JPMorgan Chase restated an “underweight” rating and set a $11.00 target price (down previously from $14.00) on shares of General Electric in a research report on Tuesday, March 13th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.09.
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General Electric Company 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.
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