Northstar Group Inc. cut its stake in shares of General Electric (NYSE:GE) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,088 shares of the conglomerate’s stock after selling 14,674 shares during the quarter. Northstar Group Inc.’s holdings in General Electric were worth $769,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of General Electric by 0.6% during the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares in the last quarter. BlackRock Inc. boosted its stake in General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital World Investors boosted its stake in General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Capital Research Global Investors boosted its stake in General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. 56.22% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Alexander Dimitrief bought 2,689 shares of the company’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 completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.12% of the stock is currently owned by insiders.
GE has been the subject of several recent analyst reports. Vertical Research set a $18.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. TheStreet cut shares of General Electric from a “c” rating to a “d+” rating in a report on Wednesday, January 24th. UBS initiated coverage on shares of General Electric in a report on Tuesday, January 23rd. They issued a “neutral” rating and a $17.00 price target for the company. Tigress Financial reaffirmed a “hold” rating on shares of General Electric in a report on Thursday, December 28th. Finally, DZ Bank reaffirmed a “sell” rating on shares of General Electric in a report on Tuesday, April 3rd. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.86.
GE opened at $13.66 on Thursday. General Electric has a fifty-two week low of $12.73 and a fifty-two week high of $30.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market capitalization of $119,732.73, a price-to-earnings ratio of 13.01, a PEG ratio of 2.68 and a beta of 1.02.
General Electric (NYSE:GE) last released its quarterly earnings data 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 negative net margin of 4.74% and a positive return on equity of 11.60%. The firm had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same period in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. equities analysts anticipate that General Electric will post 0.96 EPS for the current 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 3.51%. General Electric’s payout ratio is 45.71%.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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