OVERSEA CHINESE BANKING Corp Ltd Buys 583 Shares of General Electric (NYSE:GE)

OVERSEA CHINESE BANKING Corp Ltd grew its stake in General Electric (NYSE:GEFree Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,037 shares of the conglomerate’s stock after acquiring an additional 583 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in General Electric were worth $643,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atlas Brown Inc. raised its holdings in General Electric by 1.0% in the 4th quarter. Atlas Brown Inc. now owns 8,322 shares of the conglomerate’s stock worth $1,062,000 after purchasing an additional 85 shares during the period. Capital Analysts LLC raised its holdings in General Electric by 55.8% in the 4th quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the period. Creative Financial Designs Inc. ADV raised its holdings in General Electric by 9.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the conglomerate’s stock worth $131,000 after purchasing an additional 91 shares during the period. Ballast Advisors LLC raised its holdings in General Electric by 4.8% in the 4th quarter. Ballast Advisors LLC now owns 1,994 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 91 shares during the period. Finally, King Wealth raised its holdings in General Electric by 3.2% in the 3rd quarter. King Wealth now owns 2,988 shares of the conglomerate’s stock worth $330,000 after purchasing an additional 92 shares during the period. 74.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. The Goldman Sachs Group began coverage on General Electric in a report on Tuesday, April 9th. They set a “buy” rating and a $190.00 target price for the company. Royal Bank of Canada reduced their target price on General Electric from $180.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, April 4th. TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.07.

Get Our Latest Research Report on GE

Insider Activity

In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total value of $3,195,107.85. Following the completion of the transaction, the senior vice president now owns 56,284 shares in the company, valued at approximately $8,153,863.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Michael J. Holston sold 22,055 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now owns 56,284 shares of the company’s stock, valued at approximately $8,153,863.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total value of $1,843,615.55. Following the sale, the senior vice president now directly owns 48,339 shares in the company, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

General Electric Trading Down 3.2 %

NYSE GE opened at $148.06 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The firm has a market cap of $161.87 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 2.92 and a beta of 1.29. The firm has a 50 day simple moving average of $159.32 and a 200-day simple moving average of $134.74. General Electric has a one year low of $76.87 and a one year high of $158.68.

General Electric (NYSE:GEGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The conglomerate reported $1.03 EPS for the quarter, topping the consensus estimate of $0.90 by $0.13. The business had revenue of $19.42 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.24 earnings per share. Equities research analysts anticipate that General Electric will post 3.76 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio (DPR) is presently 13.38%.

About General Electric

(Free Report)

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

Further Reading

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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