Gillespie Robinson & Grimm Inc. grew its stake in shares of General Electric (NYSE:GE) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,211 shares of the conglomerate’s stock after purchasing an additional 5,051 shares during the quarter. Gillespie Robinson & Grimm Inc.’s holdings in General Electric were worth $719,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in General Electric by 21.3% in the second quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock worth $91,179,000 after acquiring an additional 593,686 shares during the period. Palouse Capital Management Inc. raised its holdings in General Electric by 5.4% in the third quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock worth $4,608,000 after purchasing an additional 9,755 shares in the last quarter. Destination Wealth Management raised its holdings in General Electric by 5.6% in the second quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock worth $20,938,000 after purchasing an additional 41,100 shares in the last quarter. Boston Partners raised its holdings in General Electric by 2.5% in the third quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock worth $352,756,000 after purchasing an additional 360,154 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its holdings in General Electric by 4.0% in the third quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock worth $23,177,000 after purchasing an additional 36,870 shares in the last quarter. 56.28% of the stock is owned by hedge funds and other institutional investors.
GE has been the subject of a number of recent research reports. Vertical Research set a $18.00 target price on shares of General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. UBS initiated coverage on shares of General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 target price for the company. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. Tigress Financial reiterated a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $11.00 target price (down from $14.00) on shares of General Electric in a report on Tuesday, March 13th. Five research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has a consensus rating of “Hold” and a consensus price target of $18.27.
In other news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by corporate insiders.
GE stock opened at $13.64 on Wednesday. General Electric has a fifty-two week low of $13.62 and a fifty-two week high of $30.54. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. The stock has a market cap of $122,163.84, a PE ratio of 13.40, a PEG ratio of 2.67 and a beta of 1.00.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same quarter last year, the company earned $0.46 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. sell-side analysts forecast that General Electric will post 0.99 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.52%. General Electric’s dividend payout ratio is currently -66.67%.
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.
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.