Cedar Hill Associates LLC grew its stake in shares of General Electric (NYSE:GE) by 9.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 434,647 shares of the conglomerate’s stock after acquiring an additional 37,648 shares during the period. General Electric comprises about 1.8% of Cedar Hill Associates LLC’s portfolio, making the stock its 20th largest holding. Cedar Hill Associates LLC’s holdings in General Electric were worth $10,509,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Ffcm LLC acquired a new stake in General Electric during the 2nd quarter valued at $114,000. MPS Loria Financial Planners LLC acquired a new stake in General Electric during the 2nd quarter valued at $113,000. Corbenic Partners LLC raised its stake in General Electric by 15.7% during the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock valued at $144,000 after purchasing an additional 725 shares during the period. Bristlecone Advisors LLC acquired a new stake in General Electric during the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC acquired a new stake in General Electric during the 2nd quarter valued at $209,000. Institutional investors own 56.42% of the company’s stock.
General Electric (NYSE:GE) opened at $15.10 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. The company has a market cap of $129,717.69, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 2.83 and a beta of 1.00. General Electric has a 1 year low of $13.95 and a 1 year high of $30.54.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
Several analysts have issued reports on GE shares. JPMorgan Chase & Co. reissued a “sell” rating and set a $16.00 target price (down from $17.00) on shares of General Electric in a research note on Monday, January 8th. Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Citigroup cut their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, January 25th. Morningstar set a $23.50 target price on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America downgraded shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research note on Monday, January 22nd. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.44.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.
About General Electric
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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.