Heritage Investors Management Corp trimmed its holdings in General Electric (NYSE:GE) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,448 shares of the conglomerate’s stock after selling 22,353 shares during the period. Heritage Investors Management Corp’s holdings in General Electric were worth $3,654,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in General Electric by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 648,159,140 shares of the conglomerate’s stock valued at $6,805,671,000 after purchasing an additional 8,989,832 shares during the last quarter. BlackRock Inc. raised its stake in General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock valued at $5,383,800,000 after purchasing an additional 9,483,976 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in General Electric by 26.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 365,565,828 shares of the conglomerate’s stock valued at $3,838,441,000 after purchasing an additional 76,193,032 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in General Electric by 0.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 112,158,363 shares of the conglomerate’s stock valued at $1,177,663,000 after purchasing an additional 364,061 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in General Electric during the 2nd quarter valued at $433,181,000. Institutional investors and hedge funds own 60.21% of the company’s stock.
Several equities analysts recently commented on the stock. Deutsche Bank upped their target price on shares of General Electric from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. William Blair reiterated a “buy” rating on shares of General Electric in a research note on Tuesday, December 3rd. Credit Suisse Group reiterated a “neutral” rating and set a $11.00 target price on shares of General Electric in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $13.00 target price on shares of General Electric in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. set a $5.00 target price on shares of General Electric and gave the company an “underweight” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.92.
Shares of General Electric stock opened at $12.03 on Wednesday. The firm has a market capitalization of $105.06 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.46 and a beta of 1.16. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The company’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $10.06. General Electric has a 52-week low of $7.65 and a 52-week high of $12.23.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, October 30th. The conglomerate reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $23.36 billion for the quarter, compared to analyst estimates of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts predict that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, December 23rd will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Friday, December 20th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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