Truepoint Inc. raised its stake in General Electric (NYSE:GE) by 2,010.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,086,675 shares of the conglomerate’s stock after purchasing an additional 1,035,190 shares during the period. General Electric comprises 0.1% of Truepoint Inc.’s investment portfolio, making the stock its 28th biggest position. Truepoint Inc.’s holdings in General Electric were worth $1,087,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Garde Capital Inc. increased its position in General Electric by 104.6% during the third quarter. Garde Capital Inc. now owns 38,768 shares of the conglomerate’s stock worth $937,000 after buying an additional 19,819 shares during the period. WealthTrust Fairport LLC grew its stake in shares of General Electric by 7.2% in the 3rd quarter. WealthTrust Fairport LLC now owns 89,066 shares of the conglomerate’s stock valued at $2,154,000 after purchasing an additional 5,980 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its stake in shares of General Electric by 81.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 18,500 shares of the conglomerate’s stock valued at $447,000 after purchasing an additional 8,300 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of General Electric by 12.3% in the 3rd quarter. Moors & Cabot Inc. now owns 446,041 shares of the conglomerate’s stock valued at $10,763,000 after purchasing an additional 49,010 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new position in shares of General Electric in the 3rd quarter valued at approximately $2,539,000. 56.30% of the stock is currently owned by institutional investors.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.
Shares of NYSE GE traded down $0.37 during trading on Friday, reaching $13.06. The company had a trading volume of 63,438,985 shares, compared to its average volume of 78,208,688. The stock has a market cap of $116,607.00, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 2.61 and a beta of 1.02. General Electric has a twelve month low of $12.73 and a twelve month high of $30.54. 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 (NYSE:GE) last released its earnings results 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 business had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share. analysts anticipate that General Electric will post 0.96 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.68%. General Electric’s payout ratio is currently 45.71%.
GE has been the topic of several analyst reports. Morningstar set a $23.50 target price on General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research note on Wednesday, January 10th. Citigroup decreased their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Finally, Barclays assumed coverage on General Electric in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $16.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target 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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