PVG Asset Management Corp boosted its holdings in shares of General Electric (NYSE:GE) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 337,213 shares of the conglomerate’s stock after purchasing an additional 28,995 shares during the quarter. General Electric comprises about 3.6% of PVG Asset Management Corp’s investment portfolio, making the stock its 7th largest position. PVG Asset Management Corp’s holdings in General Electric were worth $8,154,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of General Electric by 21.3% in the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after acquiring an additional 593,686 shares during the period. Palouse Capital Management Inc. raised its stake in shares of General Electric by 5.4% in the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after acquiring an additional 9,755 shares during the period. Destination Wealth Management raised its stake in shares of General Electric by 5.6% in the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after acquiring an additional 41,100 shares during the period. Boston Partners raised its stake in shares of General Electric by 2.5% in the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after acquiring an additional 360,154 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in shares of General Electric by 4.0% in the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after acquiring an additional 36,870 shares during the period. 56.42% of the stock is currently owned by institutional investors.
General Electric (NYSE:GE) opened at $14.43 on Wednesday. The company 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 12 month low of $13.95 and a 12 month high of $30.54. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32.
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 issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.33%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -160.00%.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $16.16 per share, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.36% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada downgraded shares of General Electric from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Stifel Nicolaus 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. 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. Bank of America reissued a “buy” rating and issued a $23.00 target price (down previously from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Finally, Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. 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 given a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and a consensus price target of $18.27.
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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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