Woodstock Corp boosted its holdings in shares of General Electric (NYSE:GE) by 39.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,463 shares of the conglomerate’s stock after acquiring an additional 46,000 shares during the quarter. Woodstock Corp’s holdings in General Electric were worth $2,133,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. State of Michigan Retirement System increased its stake in General Electric by 1.1% during the fourth quarter. State of Michigan Retirement System now owns 2,257,292 shares of the conglomerate’s stock worth $24,379,000 after acquiring an additional 23,700 shares during the last quarter. National Pension Service boosted its position in shares of General Electric by 0.8% during the fourth quarter. National Pension Service now owns 10,533,091 shares of the conglomerate’s stock worth $113,757,000 after buying an additional 85,935 shares during the period. Park Avenue Securities LLC boosted its position in shares of General Electric by 43.9% during the fourth quarter. Park Avenue Securities LLC now owns 29,618 shares of the conglomerate’s stock worth $320,000 after buying an additional 9,040 shares during the period. Sand Hill Global Advisors LLC boosted its position in shares of General Electric by 3.0% during the fourth quarter. Sand Hill Global Advisors LLC now owns 305,393 shares of the conglomerate’s stock worth $3,298,000 after buying an additional 8,812 shares during the period. Finally, Claraphi Advisory Network LLC boosted its position in shares of General Electric by 290.0% during the fourth quarter. Claraphi Advisory Network LLC now owns 110,839 shares of the conglomerate’s stock worth $1,197,000 after buying an additional 82,422 shares during the period. 60.09% of the stock is owned by institutional investors.
Several research analysts have recently commented on the company. Barclays raised their price target on General Electric from $15.00 to $13.00 in a research report on Thursday, March 11th. Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $14.00 target price for the company in a report on Wednesday, March 31st. The Goldman Sachs Group set a $15.00 target price on General Electric and gave the company a “buy” rating in a report on Wednesday, March 17th. Morgan Stanley lifted their target price on General Electric from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, March 10th. Finally, DZ Bank upgraded General Electric from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Wednesday, December 16th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $12.60.
In other news, Director Paula Rosput Reynolds bought 5,000 shares of the business’s stock in a transaction dated Friday, March 12th. The shares were acquired at an average price of $12.50 per share, for a total transaction of $62,500.00. Following the completion of the transaction, the director now owns 26,500 shares of the company’s stock, valued at $331,250. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by insiders.
Shares of GE traded down $0.23 during midday trading on Thursday, reaching $13.16. 328,316 shares of the stock were exchanged, compared to its average volume of 84,116,984. The business’s 50-day moving average price is $12.96 and its 200 day moving average price is $10.38. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. General Electric has a twelve month low of $5.48 and a twelve month high of $14.41. The company has a market capitalization of $115.61 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 8.61 and a beta of 1.06.
General Electric (NYSE:GE) last posted its earnings results on Monday, January 25th. The conglomerate reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). General Electric had a return on equity of 5.37% and a net margin of 4.52%. The firm had revenue of $21.93 billion for the quarter, compared to analyst estimates of $21.62 billion. During the same quarter last year, the firm posted $0.21 EPS. The firm’s revenue for the quarter was down 16.4% on a year-over-year basis. As a group, equities research analysts expect that General Electric will post 0.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 26th. Stockholders of record on Monday, March 8th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Friday, March 5th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
General Electric Profile
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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