Stewart & Patten Co. LLC lowered its position in shares of General Electric (NYSE:GE) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,621 shares of the conglomerate’s stock after selling 6,884 shares during the period. Stewart & Patten Co. LLC’s holdings in General Electric were worth $1,346,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Wedbush Securities Inc. boosted its stake in General Electric by 1.5% in the fourth quarter. Wedbush Securities Inc. now owns 251,243 shares of the conglomerate’s stock valued at $2,804,000 after acquiring an additional 3,660 shares in the last quarter. Cumberland Advisors Inc. acquired a new position in General Electric in the fourth quarter valued at $1,510,000. Merit Financial Group LLC acquired a new position in General Electric in the fourth quarter valued at $242,000. Hemenway Trust Co LLC boosted its stake in General Electric by 33.7% in the fourth quarter. Hemenway Trust Co LLC now owns 33,701 shares of the conglomerate’s stock valued at $376,000 after acquiring an additional 8,500 shares in the last quarter. Finally, IMS Capital Management boosted its stake in General Electric by 26.0% in the fourth quarter. IMS Capital Management now owns 55,965 shares of the conglomerate’s stock valued at $625,000 after acquiring an additional 11,556 shares in the last quarter. Hedge funds and other institutional investors own 60.21% of the company’s stock.
Several research firms have issued reports on GE. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Deutsche Bank upped their price objective on shares of General Electric from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. UBS Group upgraded shares of General Electric from a “neutral” rating to a “buy” rating and upped their price objective for the company from $11.50 to $14.00 in a research note on Wednesday, December 11th. Barclays restated a “buy” rating and issued a $13.00 price objective on shares of General Electric in a research note on Sunday, December 8th. Finally, Zacks Investment Research downgraded shares of General Electric from a “hold” rating to a “sell” rating and set a $13.00 price objective for the company. in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $10.92.
Shares of NYSE:GE traded down $0.03 on Friday, reaching $11.81. The company’s stock had a trading volume of 17,056,168 shares, compared to its average volume of 63,991,535. The stock’s 50-day moving average is $11.37 and its two-hundred day moving average is $10.07. General Electric has a 52-week low of $7.65 and a 52-week high of $12.23. The company has a debt-to-equity ratio of 2.67, a current ratio of 1.84 and a quick ratio of 1.60. The stock has a market capitalization of $103.10 billion, a P/E ratio of 18.17, a PEG ratio of 2.56 and a beta of 1.16.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, October 30th. The conglomerate reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $23.36 billion during the quarter, compared to analysts’ expectations of $22.93 billion. General Electric had a negative net margin of 4.39% and a positive return on equity of 11.69%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 earnings per share. Equities analysts forecast that General Electric will post 0.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 27th. Investors of record on Monday, December 23rd will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, December 20th. This represents a $0.04 annualized dividend and a yield of 0.34%. General Electric’s dividend payout ratio is currently 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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