Ingalls & Snyder LLC lessened its holdings in shares of General Electric (NYSE:GE) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,312 shares of the conglomerate’s stock after selling 976 shares during the period. Ingalls & Snyder LLC’s holdings in General Electric were worth $1,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in General Electric by 1.9% in the second quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after buying an additional 9,483,976 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in General Electric by 26.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after buying an additional 76,193,032 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in General Electric by 0.3% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock valued at $1,177,663,000 after buying an additional 364,061 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in General Electric in the second quarter valued at $433,181,000. Finally, Fisher Asset Management LLC increased its holdings in General Electric by 2.0% in the third quarter. Fisher Asset Management LLC now owns 31,380,452 shares of the conglomerate’s stock valued at $280,541,000 after buying an additional 610,113 shares in the last quarter. 60.21% of the stock is owned by hedge funds and other institutional investors.
GE has been the subject of a number of recent analyst reports. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $13.00 price objective on shares of General Electric in a report on Wednesday, October 30th. Deutsche Bank lifted their price objective on shares of General Electric from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Tuesday, December 3rd. Finally, UBS Group raised shares of General Electric from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $11.50 to $14.00 in a report on Wednesday, December 11th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $10.92.
GE opened at $11.87 on Thursday. The firm has a market capitalization of $105.06 billion, a PE ratio of 18.26, a PEG ratio of 2.56 and a beta of 1.16. General Electric has a twelve month low of $7.65 and a twelve month high of $12.23. The firm’s 50-day moving average price is $11.36 and its 200 day moving average price is $10.06. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 2.67.
General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. General Electric’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, analysts predict that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, December 23rd will be given a dividend of $0.01 per share. The ex-dividend date is Friday, December 20th. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. General Electric’s payout ratio is presently 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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