PBMares Wealth Management LLC decreased its position in General Electric (NYSE:GE) by 21.7% in the first quarter, Holdings Channel.com reports. The firm owned 14,729 shares of the conglomerate’s stock after selling 4,090 shares during the quarter. PBMares Wealth Management LLC’s holdings in General Electric were worth $193,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Norges Bank bought a new position in shares of General Electric during the fourth quarter valued at $714,522,000. FMR LLC increased its holdings in shares of General Electric by 15.9% during the fourth quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock valued at $5,192,540,000 after acquiring an additional 65,865,371 shares in the last quarter. Viking Global Investors LP bought a new position in shares of General Electric during the fourth quarter valued at $315,360,000. Bessemer Group Inc. increased its holdings in shares of General Electric by 9,183.8% during the fourth quarter. Bessemer Group Inc. now owns 13,287,193 shares of the conglomerate’s stock valued at $143,502,000 after acquiring an additional 13,144,071 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in General Electric in the 4th quarter worth about $82,781,000. Institutional investors and hedge funds own 60.09% of the company’s stock.
In related news, Director Paula Rosput Reynolds bought 5,000 shares of the business’s stock in a transaction dated Friday, March 12th. The shares were purchased at an average price of $12.50 per share, with a total value of $62,500.00. Following the transaction, the director now owns 26,500 shares in the company, valued at approximately $331,250. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.
GE has been the subject of several research analyst reports. The Goldman Sachs Group set a $15.00 price objective on General Electric and gave the stock a “buy” rating in a report on Wednesday, March 17th. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $14.00 target price on the stock in a research report on Wednesday, March 31st. UBS Group raised their target price on General Electric from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, April 9th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of General Electric in a research report on Tuesday, January 26th. Finally, Bank of America reissued a “buy” rating and set a $15.00 target price on shares of General Electric in a research note on Monday, March 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. General Electric has a consensus rating of “Buy” and an average target price of $12.93.
NYSE:GE opened at $13.39 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. General Electric has a 1 year low of $5.48 and a 1 year high of $14.41. The stock’s 50 day simple moving average is $13.20 and its two-hundred day simple moving average is $10.71. The company has a market cap of $117.63 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 8.61 and a beta of 1.06.
General Electric (NYSE:GE) last released its earnings results on Monday, January 25th. The conglomerate reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.62 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. As a group, analysts anticipate that General Electric will post 0.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 26th. Stockholders of record on Monday, March 8th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, March 5th. General Electric’s dividend payout ratio is currently 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
Featured Story: Hedge Funds – Risk or Reward?
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.