Arnhold LLC raised its position in General Electric (NYSE:GE) by 45.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 273,401 shares of the conglomerate’s stock after acquiring an additional 85,300 shares during the period. Arnhold LLC’s holdings in General Electric were worth $3,087,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fusion Family Wealth LLC increased its position in shares of General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock worth $112,000 after purchasing an additional 5,002 shares during the last quarter. Psagot Investment House Ltd. increased its position in shares of General Electric by 2,862.2% during the 3rd quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock worth $115,000 after purchasing an additional 9,846 shares during the last quarter. Beech Hill Advisors Inc. acquired a new position in shares of General Electric during the 3rd quarter worth approximately $119,000. LVW Advisors LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $127,000. Finally, Barry Investment Advisors LLC acquired a new position in shares of General Electric during the 3rd quarter worth approximately $128,000. Hedge funds and other institutional investors own 54.52% of the company’s stock.
In other General Electric news, SVP Alexander Dimitrief acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $9.48 per share, for a total transaction of $94,800.00. Following the transaction, the senior vice president now directly owns 103,075 shares in the company, valued at $977,151. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francisco Dsouza acquired 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 14th. The shares were acquired at an average price of $8.32 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now owns 151,500 shares in the company, valued at $1,260,480. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 295,000 shares of company stock valued at $2,783,250. 1.12% of the stock is owned by corporate insiders.
NYSE:GE opened at $8.94 on Friday. The firm has a market cap of $73.80 billion, a PE ratio of 8.51, a P/E/G ratio of 2.18 and a beta of 0.67. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.03. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $19.15.
General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The company had revenue of $29.57 billion for the quarter, compared to the consensus estimate of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. On average, research analysts expect that General Electric will post 0.67 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Thursday, December 20th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, December 19th. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. General Electric’s dividend payout ratio is currently 3.81%.
Several research analysts have weighed in on the company. Citigroup lowered their price target on General Electric from $21.00 to $19.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 9th. ValuEngine raised General Electric from a “strong sell” rating to a “sell” rating in a report on Saturday, October 6th. Morningstar set a $16.10 target price on General Electric and gave the stock a “buy” rating in a report on Monday, October 8th. Barclays raised General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 target price on the stock in a report on Monday, October 8th. Finally, Credit Suisse Group began coverage on General Electric in a report on Friday, October 12th. They set a “neutral” rating and a $14.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.81.
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About General Electric
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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