Acropolis Investment Management LLC raised its position in shares of General Electric (NYSE:GE) by 81.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,852 shares of the conglomerate’s stock after purchasing an additional 6,232 shares during the quarter. Acropolis Investment Management LLC’s holdings in General Electric were worth $242,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Beach Investment Management LLC. bought a new position in shares of General Electric in the 2nd quarter worth $5,487,000. Alps Advisors Inc. lifted its holdings in shares of General Electric by 7.7% in the 2nd quarter. Alps Advisors Inc. now owns 1,678,602 shares of the conglomerate’s stock worth $45,339,000 after purchasing an additional 120,521 shares in the last quarter. Shikiar Asset Management Inc. lifted its holdings in shares of General Electric by 1,450.2% in the 2nd quarter. Shikiar Asset Management Inc. now owns 125,475 shares of the conglomerate’s stock worth $3,389,000 after purchasing an additional 117,381 shares in the last quarter. Community Bank N.A. lifted its holdings in shares of General Electric by 11.8% in the 2nd quarter. Community Bank N.A. now owns 278,133 shares of the conglomerate’s stock worth $7,510,000 after purchasing an additional 29,352 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC lifted its holdings in shares of General Electric by 20.6% in the 2nd quarter. Murphy Pohlad Asset Management LLC now owns 136,142 shares of the conglomerate’s stock worth $3,677,000 after purchasing an additional 23,235 shares in the last quarter. 56.28% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a report on Wednesday, January 10th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $14.00 target price (down from $16.00) on shares of General Electric in a report on Monday, February 12th. Goldman Sachs set a $19.00 target price on General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Royal Bank of Canada cut their target price on General Electric to $17.00 and set a “sector perform” rating on the stock in a report on Thursday, January 25th. Finally, Citigroup set a $23.00 target price on General Electric and gave the stock a “buy” rating in a report on Monday, February 26th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.27.
GE stock opened at $13.07 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 52 week low of $13.02 and a 52 week high of $30.54. The firm has a market capitalization of $120,514.16, a price-to-earnings ratio of -18.15, a price-to-earnings-growth ratio of 2.63 and a beta of 1.00.
General Electric (NYSE:GE) last issued its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. General Electric’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. equities 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 3.67%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
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About General Electric
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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