Cigna Investments Inc. New lessened its stake in shares of General Electric (NYSE:GE) by 11.6% during the fourth quarter, HoldingsChannel reports. The firm owned 319,810 shares of the conglomerate’s stock after selling 41,892 shares during the period. Cigna Investments Inc. New’s holdings in General Electric were worth $5,580,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ffcm LLC acquired a new position in shares of General Electric in the second quarter worth about $114,000. Corbenic Partners LLC lifted its stake in shares of 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 acquired a new position in shares of General Electric in the third quarter worth about $164,000. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of General Electric in the third quarter worth about $204,000. Finally, Kalos Management Inc. acquired a new position in shares of General Electric in the third quarter worth about $211,000. Institutional investors own 56.22% of the company’s stock.
Several research firms recently commented on GE. TheStreet cut General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. DZ Bank reiterated a “sell” rating on shares of General Electric in a research note on Tuesday, April 3rd. Goldman Sachs set a $14.00 price target on General Electric and gave the stock a “hold” rating in a research note on Monday, April 16th. Bank of America reiterated a “hold” rating and issued a $17.00 price target on shares of General Electric in a research note on Sunday, April 15th. Finally, JPMorgan Chase reiterated a “sell” rating on shares of General Electric in a research note on Friday. Seven investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.86.
In related news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the acquisition, the insider now 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 SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by corporate insiders.
Shares of General Electric stock opened at $14.54 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 $121,469.24, a P/E ratio of 13.85, a PEG ratio of 2.72 and a beta of 1.02. General Electric has a fifty-two week low of $12.73 and a fifty-two week high of $30.38.
General Electric (NYSE:GE) last announced its quarterly earnings data on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion during the quarter, compared to analyst estimates of $27.26 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 up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. equities research analysts anticipate that General Electric will post 0.96 earnings per share for the current fiscal 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 3.30%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently 45.71%.
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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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