Great Lakes Advisors LLC raised its stake in General Electric (NYSE:GE) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,660,230 shares of the conglomerate’s stock after acquiring an additional 331,577 shares during the period. General Electric makes up about 1.3% of Great Lakes Advisors LLC’s portfolio, making the stock its 17th biggest holding. Great Lakes Advisors LLC owned approximately 0.07% of General Electric worth $63,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenline Partners LLC increased its stake in shares of General Electric by 20.7% in the 3rd quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock valued at $1,503,000 after purchasing an additional 22,584 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in shares of General Electric by 2.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after purchasing an additional 24,812 shares during the last quarter. Grove Bank & Trust bought a new position in shares of General Electric in the 3rd quarter valued at $274,000. Boyd Watterson Asset Management LLC OH increased its stake in shares of General Electric by 12.8% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 39,974 shares of the conglomerate’s stock valued at $451,000 after purchasing an additional 4,539 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of General Electric by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock valued at $24,320,000 after purchasing an additional 20,500 shares during the last quarter. 54.46% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on GE. Barclays reduced their price objective on General Electric from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, December 17th. UBS Group set a $13.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Monday, December 10th. Citigroup reduced their price objective on General Electric from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, October 30th. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. Finally, Goldman Sachs Group set a $9.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.04.
In related news, Director Francisco Dsouza bought 60,000 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were purchased at an average cost of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.12% of the stock is currently owned by insiders.
Shares of GE stock opened at $10.03 on Tuesday. The firm has a market cap of $85.18 billion, a P/E ratio of 15.43, a PEG ratio of 3.06 and a beta of 0.99. General Electric has a twelve month low of $6.66 and a twelve month high of $15.59. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.36 and a current ratio of 1.66.
General Electric (NYSE:GE) last announced its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $33.28 billion for the quarter, compared to analyst estimates of $32.01 billion. General Electric had a positive return on equity of 9.84% and a negative net margin of 18.38%. Equities research analysts expect that General Electric will post 0.64 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Thursday, December 20th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Wednesday, December 19th. General Electric’s payout ratio is presently 6.15%.
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General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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