Osborne Partners Capital Management LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 5.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 422,622 shares of the conglomerate’s stock after selling 25,478 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in General Electric were worth $7,375,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Beach Investment Management LLC. bought a new position in General Electric during the 2nd quarter valued at about $5,487,000. Comprehensive Portfolio Management LLC bought a new position in General Electric during the 2nd quarter valued at about $932,000. Hourglass Capital LLC grew its holdings in General Electric by 10.4% during the 2nd quarter. Hourglass Capital LLC now owns 266,112 shares of the conglomerate’s stock valued at $7,188,000 after purchasing an additional 25,020 shares during the last quarter. Private Vista LLC bought a new position in General Electric during the 2nd quarter valued at about $368,000. Finally, Sicart Associates LLC grew its holdings in General Electric by 5.6% during the 2nd quarter. Sicart Associates LLC now owns 37,800 shares of the conglomerate’s stock valued at $1,021,000 after purchasing an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 56.22% of the company’s stock.
Shares of GE stock opened at $13.33 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. The stock has a market capitalization of $117,127.95, a price-to-earnings ratio of 12.70, a P/E/G ratio of 2.62 and a beta of 1.02. General Electric has a one year low of $12.73 and a one year high of $30.54.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to the consensus estimate 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 revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 earnings per share. equities analysts forecast that General Electric will post 0.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.60%. General Electric’s dividend payout ratio is currently 45.71%.
In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were 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 in the company, valued at $1,311,949.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.12% of the stock is owned by corporate insiders.
GE has been the topic of several analyst reports. Morningstar set a $23.50 price target on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, January 23rd. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a report on Wednesday, January 10th. Citigroup cut their price target on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Finally, Barclays initiated coverage on shares of General Electric in a report on Thursday, February 15th. They set an “equal weight” rating and a $16.00 price target on the stock. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and an average price target of $17.86.
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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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