Cubist Systematic Strategies LLC grew its position in General Electric (NYSE:GE) by 25.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,256 shares of the conglomerate’s stock after acquiring an additional 11,178 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in General Electric were worth $1,336,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of GE. Franklin Resources Inc. lifted its holdings in shares of General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. BlackRock Inc. lifted its holdings in shares of General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital Research Global Investors lifted its holdings in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Boston Partners raised its position in General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after acquiring an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in General Electric by 1,011.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after acquiring an additional 13,315,605 shares in the last quarter. 56.42% of the stock is owned by institutional investors and hedge funds.
Several research firms have issued reports on GE. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a research report on Wednesday, January 10th. Deutsche Bank cut their price objective on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research report on Tuesday, November 21st. Royal Bank of Canada cut General Electric from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $25.00 to $20.00 in a research report on Tuesday, November 14th. Stifel Nicolaus set a $22.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $14.00 price objective (down previously from $16.00) on shares of General Electric in a research report on Monday, February 12th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.44.
General Electric (GE) opened at $15.10 on Tuesday. General Electric has a 52-week low of $13.95 and a 52-week high of $30.54. The firm has a market capitalization of $129,717.69, a price-to-earnings ratio of 14.23, a PEG ratio of 2.83 and a beta of 1.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The firm had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same quarter in the prior year, the business earned $0.46 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that General Electric will post 0.99 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio is currently -66.67%.
General Electric Profile
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.
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