Caisse DE Depot ET Placement DU Quebec cut its stake in General Electric (NYSE:GE) by 22.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,512,499 shares of the conglomerate’s stock after selling 740,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in General Electric were worth $61,008,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in GE. Vanguard Group Inc. lifted its holdings in shares of General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after buying an additional 3,297,890 shares during the period. BlackRock Inc. raised its holdings in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital World Investors raised its holdings in General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Capital Research Global Investors raised its holdings in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. increased its stake in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. Institutional investors and hedge funds own 56.42% of the company’s stock.
Shares of General Electric (GE) traded down $0.12 during midday trading on Wednesday, hitting $14.31. 42,573,883 shares of the stock traded hands, compared to its average volume of 95,763,430. 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 has a one year low of $13.95 and a one year high of $30.54. The stock has a market cap of $125,070.00, a PE ratio of -47.92, a PEG ratio of 2.86 and a beta of 1.00.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. During the same period last year, the company posted $0.46 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. sell-side analysts forecast that General Electric will post 0.99 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders 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 dividend on an annualized basis and a yield of 3.35%. General Electric’s dividend payout ratio is currently -160.00%.
In related news, insider Alexander Dimitrief bought 2,689 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.36% of the company’s stock.
GE has been the subject of several research reports. Morningstar set a $23.50 price objective on General Electric and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Citigroup dropped their price target on General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Stifel Nicolaus set a $18.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Monday, December 11th. Cowen reiterated a “market perform” rating and issued a $15.00 price objective (down from $17.00) on shares of General Electric in a research report on Monday, February 26th. Finally, UBS Group assumed coverage on General Electric in a research note on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $18.27.
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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