Neville Rodie & Shaw Inc. reduced its holdings in General Electric (NYSE:GE) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 343,122 shares of the conglomerate’s stock after selling 16,150 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in General Electric were worth $5,988,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in GE. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of General Electric by 4,215.4% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 54,124,364 shares of the conglomerate’s stock worth $1,308,727,000 after acquiring an additional 52,870,164 shares in the last quarter. Franklin Resources Inc. lifted its holdings 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. BlackRock Inc. lifted its holdings in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital Research Global Investors lifted its holdings in General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in General Electric by 1,011.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after buying an additional 13,315,605 shares in the last quarter. 56.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric stock traded down $0.28 during trading on Friday, hitting $13.07. 82,930,120 shares of the company’s stock traded hands, compared to its average volume of 79,397,480. The company has a market cap of $113,481.27, a PE ratio of -18.15, a price-to-earnings-growth ratio of 2.48 and a beta of 1.00. General Electric has a 52
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The business’s revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 EPS. research analysts forecast that General Electric will post 0.99 earnings per share for the current fiscal 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. This represents a $0.48 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
In other news, insider Alexander Dimitrief acquired 2,689 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was acquired 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 $1,311,949.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.12% of the company’s stock.
Several research firms have issued reports on GE. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a report on Wednesday, January 10th. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a price objective on shares of General Electric in a report on Monday, January 15th. Goldman Sachs set a $19.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Deutsche Bank reaffirmed a “sell” rating and set a $15.00 price objective on shares of General Electric in a report on Wednesday, January 17th. Finally, Vertical Research set a $18.00 price objective on General Electric and gave the stock a “hold” rating in a report on Tuesday, January 16th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.27.
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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