Boltwood Capital Management cut its stake in General Electric (NYSE:GE) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,735 shares of the conglomerate’s stock after selling 4,257 shares during the period. Boltwood Capital Management’s holdings in General Electric were worth $1,129,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Toronto Dominion Bank raised its holdings in shares of General Electric by 21.3% in the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after purchasing an additional 593,686 shares during the period. Palouse Capital Management Inc. raised its holdings in shares of General Electric by 5.4% in the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after purchasing an additional 9,755 shares during the period. Destination Wealth Management raised its holdings in shares of General Electric by 5.6% in the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after purchasing an additional 41,100 shares during the period. Boston Partners raised its holdings in shares of General Electric by 2.5% in the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after purchasing an additional 360,154 shares during the period. Finally, Berkshire Asset Management LLC PA raised its holdings in shares of General Electric by 4.0% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after purchasing an additional 36,870 shares during the period. 56.28% of the stock is owned by hedge funds and other institutional investors.
General Electric (NYSE GE) opened at $14.07 on Tuesday. General Electric has a 52-week low of $13.95 and a 52-week high of $30.54. The stock has a market cap of $124,247.67, a P/E ratio of -19.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. 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 (NYSE:GE) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 analyst estimates of $33.93 billion. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. sell-side analysts expect that General Electric will post 0.99 earnings per share for the current year.
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 given a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.41%. General Electric’s payout ratio is presently -66.67%.
A number of equities research analysts have recently issued reports on GE shares. Deutsche Bank dropped their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a report on Tuesday, November 21st. Goldman Sachs set a $19.00 target price on shares of General Electric and gave the company a “neutral” rating in a report on Thursday, November 30th. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the company a “neutral” rating in a report on Monday, December 11th. Tigress Financial reaffirmed a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Finally, JPMorgan Chase & Co. reaffirmed a “sell” rating and issued a $16.00 target price (down from $17.00) on shares of General Electric in a report on Monday, January 8th. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus 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 firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.
About General Electric
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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