Stellar Capital Management LLC trimmed its position in General Electric (NYSE:GE) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,230 shares of the conglomerate’s stock after selling 15,988 shares during the quarter. Stellar Capital Management LLC’s holdings in General Electric were worth $1,871,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in GE. Raffles Associates LP purchased a new position in shares of General Electric in the 4th quarter valued at $872,000. Mackenzie Financial Corp grew its position in shares of General Electric by 182.4% in the 4th quarter. Mackenzie Financial Corp now owns 6,477,175 shares of the conglomerate’s stock valued at $113,027,000 after buying an additional 4,183,435 shares during the last quarter. Loews Corp purchased a new position in shares of General Electric in the 4th quarter valued at $52,350,000. Ascend Capital LLC purchased a new position in shares of General Electric in the 4th quarter valued at $2,705,000. Finally, Santori & Peters Inc. purchased a new position in shares of General Electric in the 4th quarter valued at $120,000. Institutional investors and hedge funds own 54.00% of the company’s stock.
GE stock opened at $13.98 on Wednesday. General Electric has a one year low of $12.73 and a one year high of $29.47. The firm has a market capitalization of $121.38 billion, a PE ratio of 13.31, a PEG ratio of 2.68 and a beta of 1.01. The company has a quick ratio of 1.48, a current ratio of 1.76 and a debt-to-equity ratio of 1.44.
General Electric (NYSE:GE) last released its earnings results on Friday, April 20th. The conglomerate reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The company had revenue of $28.66 billion during the quarter, compared to analysts’ expectations of $27.26 billion. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was up 6.6% on a year-over-year basis. research analysts expect that General Electric will post 0.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Monday, June 18th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 45.71%.
In other news, major shareholder Electric Co General sold 3,883,000 shares of the firm’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.12% of the stock is currently owned by company insiders.
A number of research analysts recently commented on GE shares. Citigroup reaffirmed a “buy” rating on shares of General Electric in a research report on Tuesday, April 3rd. William Blair reaffirmed a “buy” rating on shares of General Electric in a research report on Monday, April 23rd. Morningstar set a $19.00 target price on shares of General Electric and gave the company a “buy” rating in a research report on Wednesday, May 2nd. Gabelli started coverage on shares of General Electric in a research report on Monday, May 14th. They issued a “buy” rating and a $22.50 target price on the stock. Finally, Barclays assumed coverage on shares of General Electric in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $16.00 target price on the stock. Seven investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. General Electric has an average rating of “Hold” and an average price target of $17.92.
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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