Piedmont Investment Advisors LLC boosted its position in General Electric (NYSE:GE) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,876,592 shares of the conglomerate’s stock after purchasing an additional 17,117 shares during the quarter. General Electric comprises 1.0% of Piedmont Investment Advisors LLC’s investment portfolio, making the stock its 21st biggest position. Piedmont Investment Advisors LLC’s holdings in General Electric were worth $45,376,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ffcm LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at $114,000. MPS Loria Financial Planners LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at $113,000. Corbenic Partners LLC raised its position in shares of 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 buying an additional 725 shares in the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of General Electric during the 3rd quarter valued at $164,000. Finally, Tuttle Tactical Management LLC purchased a new stake in shares of General Electric during the 2nd quarter valued at $209,000. Institutional investors and hedge funds own 56.42% of the company’s stock.
GE has been the topic of several research reports. JPMorgan Chase & Co. restated a “sell” rating and set a $16.00 price objective (down previously from $17.00) on shares of General Electric in a research report on Monday, January 8th. Goldman Sachs Group set a $22.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research report on Tuesday, November 14th. Citigroup lowered their price objective on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Morningstar set a $23.50 target price on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America cut 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 report 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 given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.27.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. General Electric’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the business earned $0.46 EPS. equities analysts expect that General Electric will post 0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently -160.00%.
In other news, insider Alexander Dimitrief purchased 2,689 shares of the business’s stock in a transaction on Monday, January 29th. The shares were acquired at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is owned by company insiders.
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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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