Griffin Asset Management Inc. boosted its stake in General Electric (NYSE:GE) by 22.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 362,227 shares of the conglomerate’s stock after acquiring an additional 67,053 shares during the quarter. General Electric accounts for about 1.6% of Griffin Asset Management Inc.’s portfolio, making the stock its 13th biggest holding. Griffin Asset Management Inc.’s holdings in General Electric were worth $8,759,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. PVG Asset Management Corp boosted its stake in General Electric by 9.4% during the 3rd quarter. PVG Asset Management Corp now owns 337,213 shares of the conglomerate’s stock worth $8,154,000 after purchasing an additional 28,995 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in General Electric by 0.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 1,876,592 shares of the conglomerate’s stock worth $45,376,000 after purchasing an additional 17,117 shares during the last quarter. California Public Employees Retirement System boosted its stake in General Electric by 4.2% during the 3rd quarter. California Public Employees Retirement System now owns 21,737,373 shares of the conglomerate’s stock worth $525,610,000 after purchasing an additional 880,041 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in General Electric by 7.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,893,375 shares of the conglomerate’s stock worth $69,962,000 after purchasing an additional 197,105 shares during the last quarter. Finally, Arbor Wealth Management LLC boosted its stake in General Electric by 509.1% during the 3rd quarter. Arbor Wealth Management LLC now owns 141,599 shares of the conglomerate’s stock worth $2,534,000 after purchasing an additional 118,353 shares during the last quarter. 56.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $11.00 target price (down previously from $14.00) on shares of General Electric in a research note on Tuesday. UBS Group set a $16.00 target price on shares of General Electric and gave the stock a “neutral” rating in a research note on Wednesday, March 7th. Royal Bank of Canada reissued a “hold” rating and set a $16.00 price target on shares of General Electric in a research report on Tuesday, February 27th. Citigroup set a $23.00 price target on shares of General Electric and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, Cowen reissued a “market perform” rating and set a $15.00 price target (down previously from $17.00) on shares of General Electric in a research report on Monday, February 26th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.27.
Shares of General Electric (NYSE GE) opened at $14.43 on Wednesday. The stock has a market cap of $125,290.00, a PE ratio of -48.10, a P/E/G ratio of 2.83 and a beta of 1.00. General Electric has a fifty-two week low of $13.95 and a fifty-two week high of $30.54. 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 issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. equities analysts predict that General Electric will post 0.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.33%. General Electric’s dividend payout ratio (DPR) is currently -160.00%.
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General Electric Company 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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