Martingale Asset Management L P Has $5,242,000 Stake in General Electric Company (GE)

Martingale Asset Management L P lowered its stake in General Electric Company (NYSE:GE) by 15.7% during the fourth quarter, Holdings Channel reports. The fund owned 165,880 shares of the company’s stock after selling 30,818 shares during the period. Martingale Asset Management L P’s holdings in General Electric Company were worth $5,242,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Teza Capital Management LLC acquired a new position in shares of General Electric Company during the fourth quarter valued at approximately $259,000. Cadinha & Co. LLC raised its position in shares of General Electric Company by 355.8% in the fourth quarter. Cadinha & Co. LLC now owns 34,685 shares of the company’s stock valued at $1,096,000 after buying an additional 27,075 shares during the last quarter. TCW Group Inc. raised its position in shares of General Electric Company by 4.6% in the fourth quarter. TCW Group Inc. now owns 8,169,181 shares of the company’s stock valued at $258,146,000 after buying an additional 360,375 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of General Electric Company by 3.1% in the fourth quarter. Baird Financial Group Inc. now owns 6,320,739 shares of the company’s stock valued at $199,735,000 after buying an additional 189,042 shares during the last quarter. Finally, Haverford Trust Co. raised its position in shares of General Electric Company by 0.9% in the fourth quarter. Haverford Trust Co. now owns 1,383,274 shares of the company’s stock valued at $43,711,000 after buying an additional 12,550 shares during the last quarter. 54.68% of the stock is owned by institutional investors.

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

Shares of General Electric Company (NYSE:GE) opened at 29.74 on Tuesday. The firm has a 50-day moving average price of $29.94 and a 200 day moving average price of $30.30. The company has a market cap of $259.48 billion, a P/E ratio of 33.30 and a beta of 1.20. General Electric Company has a 12 month low of $28.19 and a 12 month high of $33.00.

General Electric Company (NYSE:GE) last announced its quarterly earnings data on Friday, January 20th. The company reported $0.46 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.46. The firm earned $33.10 billion during the quarter, compared to analyst estimates of $33.67 billion. General Electric Company had a return on equity of 15.99% and a net margin of 6.86%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share. Equities analysts predict that General Electric Company will post $1.63 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Monday, February 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 23rd. This represents a $0.96 annualized dividend and a dividend yield of 3.23%. General Electric Company’s payout ratio is currently 106.67%.

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Several brokerages have recently commented on GE. Zacks Investment Research raised General Electric Company from a “sell” rating to a “hold” rating in a report on Monday. Barclays PLC reissued an “overweight” rating and set a $36.00 price objective on shares of General Electric Company in a report on Monday. JPMorgan Chase & Co. set a $29.00 price objective on General Electric Company and gave the stock a “sell” rating in a report on Tuesday, March 14th. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price objective on shares of General Electric Company in a report on Monday, March 6th. Finally, Sanford C. Bernstein set a $38.00 price objective on General Electric Company and gave the stock a “buy” rating in a report on Friday, February 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.37.

In other news, Vice Chairman David Leon Joyce sold 159,662 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $29.56, for a total transaction of $4,719,608.72. Following the completion of the transaction, the insider now directly owns 738,907 shares in the company, valued at approximately $21,842,090.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey S. Bornstein bought 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 31st. The shares were bought at an average price of $29.63 per share, with a total value of $148,150.00. Following the completion of the transaction, the insider now directly owns 68,757 shares in the company, valued at approximately $2,037,269.91. The disclosure for this purchase can be found here. 0.23% of the stock is currently owned by insiders.

General Electric Company Company Profile

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