Diversified Investment Strategies LLC raised its position in shares of General Electric (NYSE:GE) by 24.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 66,691 shares of the conglomerate’s stock after buying an additional 13,151 shares during the quarter. General Electric comprises approximately 1.6% of Diversified Investment Strategies LLC’s portfolio, making the stock its 17th biggest position. Diversified Investment Strategies LLC’s holdings in General Electric were worth $1,613,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of General Electric by 0.6% during the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after acquiring an additional 3,297,890 shares in the last quarter. BlackRock Inc. increased its holdings in shares of General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital World Investors increased its holdings in shares of General Electric by 8.6% during the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. 55.54% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on GE shares. Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a report on Tuesday, November 14th. Royal Bank of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $25.00 to $20.00 in a report on Tuesday, November 14th. Goldman Sachs Group set a $22.00 price target on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Stifel Nicolaus set a $22.00 price target on General Electric and gave the company a “neutral” rating in a report on Tuesday, November 14th. Finally, Morningstar restated a “buy” rating on shares of General Electric in a report on Tuesday, November 14th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and an average price target of $18.44.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. equities analysts anticipate that General Electric will post 0.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.21%. General Electric’s payout ratio is -66.67%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.
General Electric Company 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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