Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in shares of General Electric (NYSE:GE) by 4.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 394,149 shares of the conglomerate’s stock after selling 20,070 shares during the quarter. General Electric makes up 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in General Electric were worth $9,531,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in GE. Vanguard Group Inc. boosted its position in shares of General Electric by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the period. BlackRock Inc. boosted its position in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares during the period. Capital World Investors boosted its position in shares of General Electric by 8.6% in the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Capital Research Global Investors boosted its position in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares during the period. 55.17% of the stock is owned by institutional investors and hedge funds.
GE has been the subject of several analyst reports. UBS Group reaffirmed a “sell” rating and set a $18.00 price objective (down from $21.00) on shares of General Electric in a research note on Monday, October 30th. Vetr raised General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective for the company in a research note on Monday, October 30th. JPMorgan Chase & Co. reduced their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, November 1st. Goldman Sachs Group set a $22.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Finally, Cowen reaffirmed a “hold” rating and set a $19.00 price objective on shares of General Electric in a research note on Wednesday, November 8th. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $18.56.
General Electric (GE) opened at $14.49 on Monday. The stock has a market capitalization of $125,810.52, a P/E ratio of 13.80, a PEG ratio of 2.75 and a beta of 0.93. General Electric has a one year low of $14.23 and a one year high of $30.54. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.53 and a current ratio of 1.86.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The business had revenue of $31.40 billion for the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share. research analysts anticipate that General Electric will post 0.99 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is -66.67%.
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General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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