Janney Capital Management LLC grew its stake in shares of General Electric (NYSE:GE) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 898,727 shares of the conglomerate’s stock after purchasing an additional 25,915 shares during the period. Janney Capital Management LLC’s holdings in General Electric were worth $21,731,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after acquiring an additional 3,297,890 shares during the period. BlackRock Inc. lifted its position in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares during the period. Capital World Investors lifted its position in General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after acquiring an additional 11,194,678 shares during the period. Capital Research Global Investors lifted its position in General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. lifted its position in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares during the period. 56.42% of the stock is currently owned by hedge funds and other institutional investors.
General Electric (NYSE GE) opened at $14.43 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. General Electric has a twelve month low of $13.95 and a twelve month high of $30.54. The firm has a market cap of $125,290.00, a P/E ratio of -48.10, a PEG ratio of 2.83 and a beta of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.33%. General Electric’s payout ratio is -160.00%.
Several research analysts have issued reports on GE shares. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a report on Wednesday, January 10th. Deutsche Bank decreased their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a report on Tuesday, November 21st. Royal Bank of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $25.00 to $20.00 in a report on Tuesday, November 14th. Stifel Nicolaus set a $22.00 target price on shares of General Electric and gave the stock a “neutral” rating in a report on Tuesday, November 14th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $14.00 target price (down from $16.00) on shares of General Electric in a report on Monday, February 12th. Five equities research 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 company. The company currently has an average rating of “Hold” and a consensus price target of $18.27.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is owned by insiders.
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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