Mendel Money Management acquired a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,970 shares of the conglomerate’s stock, valued at approximately $732,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of 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 worth $1,308,727,000 after acquiring an additional 52,870,164 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of General Electric by 5,359.6% in the 3rd quarter. Stifel Financial Corp now owns 7,785,153 shares of the conglomerate’s stock worth $188,126,000 after acquiring an additional 7,642,557 shares in the last quarter. Thornburg Investment Management Inc. boosted its holdings in shares of General Electric by 217.0% in the 3rd quarter. Thornburg Investment Management Inc. now owns 7,449,780 shares of the conglomerate’s stock worth $180,136,000 after acquiring an additional 5,099,442 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of General Electric by 142.6% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,513,748 shares of the conglomerate’s stock worth $109,142,000 after acquiring an additional 2,653,032 shares in the last quarter. Finally, River Road Asset Management LLC acquired a new position in shares of General Electric in the 3rd quarter worth approximately $56,422,000. 55.96% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on GE. TheStreet downgraded General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Stifel Nicolaus set a $15.00 target price on General Electric and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase reissued a “sell” rating and issued a $11.00 target price on shares of General Electric in a report on Monday, April 9th. Goldman Sachs reissued a “neutral” rating and issued a $14.00 target price on shares of General Electric in a report on Tuesday, April 10th. Finally, DZ Bank reissued a “sell” rating on shares of General Electric in a report on Tuesday, April 3rd. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.92.
In other General Electric news, major shareholder Electric Co General sold 3,883,000 shares of the company’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total transaction of $58,245,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.
Shares of General Electric opened at $14.97 on Friday, Marketbeat Ratings reports. The firm has a market cap of $130.50 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02. General Electric has a 52 week low of $12.73 and a 52 week high of $29.47. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.76 and a quick ratio of 1.48.
General Electric (NYSE:GE) last issued its earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS. sell-side analysts forecast that General Electric will post 0.96 EPS for the current year.
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.
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