Redpoint Investment Management Pty Ltd Has $2.45 Million Stake in General Electric (NYSE:GE)


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Redpoint Investment Management Pty Ltd increased its position in shares of General Electric (NYSE:GE) by 10.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 226,766 shares of the conglomerate’s stock after purchasing an additional 21,351 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in General Electric were worth $2,449,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Global Retirement Partners LLC increased its holdings in General Electric by 21.5% during the fourth quarter. Global Retirement Partners LLC now owns 229,249 shares of the conglomerate’s stock worth $2,476,000 after buying an additional 40,620 shares during the last quarter. Sowell Financial Services LLC boosted its position in General Electric by 12.8% during the fourth quarter. Sowell Financial Services LLC now owns 49,567 shares of the conglomerate’s stock worth $535,000 after purchasing an additional 5,611 shares during the period. Xcel Wealth Management LLC boosted its position in General Electric by 5.8% during the fourth quarter. Xcel Wealth Management LLC now owns 314,922 shares of the conglomerate’s stock worth $3,401,000 after purchasing an additional 17,200 shares during the period. Tatro Capital LLC bought a new position in General Electric during the fourth quarter worth $116,000. Finally, CX Institutional boosted its position in General Electric by 7.1% during the fourth quarter. CX Institutional now owns 13,824 shares of the conglomerate’s stock worth $149,000 after purchasing an additional 918 shares during the period. Institutional investors and hedge funds own 57.91% of the company’s stock.

General Electric stock opened at $11.57 on Thursday. The business has a 50 day moving average of $10.86 and a 200-day moving average of $7.98. General Electric has a 1 year low of $5.48 and a 1 year high of $13.26. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. The company has a market capitalization of $101.35 billion, a P/E ratio of 32.14, a P/E/G ratio of 65.65 and a beta of 1.03.

General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. General Electric had a return on equity of 5.37% and a net margin of 4.52%. The company had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $19.15 billion. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities analysts anticipate that General Electric will post 0.04 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Stockholders of record on Monday, December 21st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, December 18th. General Electric’s dividend payout ratio is currently 6.15%.

A number of equities analysts have commented on the stock. Oppenheimer raised shares of General Electric from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research report on Tuesday, November 24th. Argus boosted their price target on General Electric from $10.00 to $14.00 and gave the company a “buy” rating in a research note on Thursday, December 10th. Cowen reaffirmed a “hold” rating and issued a $7.00 price target on shares of General Electric in a research note on Monday, October 19th. Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $6.81 to $9.00 and gave the company a “hold” rating in a research note on Thursday, October 29th. Finally, DZ Bank raised General Electric from a “sell” rating to a “hold” rating and set a $11.00 target price for the company in a research note on Wednesday, December 16th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. General Electric currently has a consensus rating of “Buy” and an average target price of $10.00.

About General Electric

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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