Triangle Securities Wealth Management lowered its stake in shares of General Electric (NYSE:GE) by 64.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,795 shares of the conglomerate’s stock after selling 71,517 shares during the period. Triangle Securities Wealth Management’s holdings in General Electric were worth $694,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. White Lighthouse Investment Management Inc. acquired a new stake in shares of General Electric in the 4th quarter valued at $301,000. Moon Capital Management LLC lifted its stake in shares of General Electric by 45.2% in the 4th quarter. Moon Capital Management LLC now owns 30,539 shares of the conglomerate’s stock valued at $533,000 after purchasing an additional 9,503 shares during the last quarter. Gillespie Robinson & Grimm Inc. lifted its stake in shares of General Electric by 14.0% in the 4th quarter. Gillespie Robinson & Grimm Inc. now owns 41,211 shares of the conglomerate’s stock valued at $719,000 after purchasing an additional 5,051 shares during the last quarter. F&V Capital Management LLC lifted its stake in shares of General Electric by 99.3% in the 4th quarter. F&V Capital Management LLC now owns 279,270 shares of the conglomerate’s stock valued at $4,873,000 after purchasing an additional 139,145 shares during the last quarter. Finally, DnB Asset Management AS lifted its stake in shares of General Electric by 1.5% in the 4th quarter. DnB Asset Management AS now owns 1,178,458 shares of the conglomerate’s stock valued at $20,564,000 after purchasing an additional 17,500 shares during the last quarter. 56.28% of the stock is owned by institutional investors.
GE has been the subject of several analyst reports. Morningstar set a $23.50 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Citigroup dropped their target price on shares of General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Stifel Nicolaus set a $18.00 target price on shares of General Electric and gave the stock a “neutral” rating in a report on Monday, December 11th. Cowen reiterated a “market perform” rating and issued a $15.00 target price (down previously from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS began coverage on shares of General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $18.27.
In related news, insider Alexander Dimitrief acquired 2,689 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now 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 is available through this hyperlink. Insiders own 1.12% of the company’s stock.
General Electric stock opened at $13.88 on Thursday. General Electric has a twelve month low of $13.57 and a twelve month 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 $118,430.34, a PE ratio of 12.99, a PEG ratio of 2.59 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 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 company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities research analysts forecast that General Electric will post 0.99 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.46%. General Electric’s payout ratio is -66.67%.
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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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