Partnervest Advisory Services LLC lifted its stake in General Electric (NYSE:GE) by 182.0% in the first quarter, HoldingsChannel.com reports. The fund owned 49,590 shares of the conglomerate’s stock after purchasing an additional 32,005 shares during the period. Partnervest Advisory Services LLC’s holdings in General Electric were worth $668,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of GE. First United Bank Trust raised its position in shares of General Electric by 31.2% in the fourth quarter. First United Bank Trust now owns 11,596 shares of the conglomerate’s stock worth $202,000 after buying an additional 2,760 shares in the last quarter. Graybill Bartz & Assoc Ltd. raised its position in shares of General Electric by 2.4% in the fourth quarter. Graybill Bartz & Assoc Ltd. now owns 125,984 shares of the conglomerate’s stock worth $2,198,000 after buying an additional 2,925 shares in the last quarter. FinTrust Investment Advisory Services LLC raised its position in shares of General Electric by 12.2% in the fourth quarter. FinTrust Investment Advisory Services LLC now owns 30,097 shares of the conglomerate’s stock worth $525,000 after buying an additional 3,270 shares in the last quarter. Dempze Nancy E raised its position in shares of General Electric by 30.6% in the fourth quarter. Dempze Nancy E now owns 14,956 shares of the conglomerate’s stock worth $261,000 after buying an additional 3,504 shares in the last quarter. Finally, Marshwinds Advisory Co. raised its position in shares of General Electric by 2.0% in the fourth quarter. Marshwinds Advisory Co. now owns 181,867 shares of the conglomerate’s stock worth $3,174,000 after buying an additional 3,583 shares in the last quarter. 53.87% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on GE shares. Citigroup reiterated a “buy” rating on shares of General Electric in a research report on Tuesday, April 3rd. William Blair reiterated a “buy” rating on shares of General Electric in a research report on Monday, April 23rd. Morningstar set a $19.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Gabelli started coverage on General Electric in a research report on Monday, May 14th. They issued a “buy” rating and a $22.50 price objective on the stock. Finally, Goldman Sachs Group set a $14.00 price objective on General Electric and gave the stock a “hold” rating in a research report on Monday, April 16th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.44.
General Electric opened at $13.37 on Tuesday, according to Marketbeat.com. General Electric has a twelve month low of $12.61 and a twelve month high of $27.59. The company has a current ratio of 1.76, a quick ratio of 1.48 and a debt-to-equity ratio of 1.44. The stock has a market cap of $118.17 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.61 and a beta of 1.02.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. The business had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a positive return on equity of 11.22% and a negative net margin of 6.16%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $0.14 earnings per share. analysts predict that General Electric will post 0.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Monday, June 18th will be issued a $0.12 dividend. The ex-dividend date is Friday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 3.59%. General Electric’s dividend payout ratio is currently 45.71%.
In other news, major shareholder Electric Co General sold 3,883,000 shares of General Electric stock in a transaction dated Tuesday, April 24th. The stock was sold at an average price of $15.00, for a total value of $58,245,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.