Founders Capital Management lowered its position in shares of General Electric (NYSE:GE) by 59.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,405 shares of the conglomerate’s stock after selling 65,010 shares during the quarter. Founders Capital Management’s holdings in General Electric were worth $775,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of GE. Peak Financial Management Inc. boosted its holdings in shares of General Electric by 0.3% in the second quarter. Peak Financial Management Inc. now owns 9,284 shares of the conglomerate’s stock valued at $251,000 after buying an additional 25 shares during the period. Cutter & CO Brokerage Inc. boosted its holdings in shares of General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock valued at $557,000 after buying an additional 67 shares during the period. NorthRock Partners LLC boosted its holdings in shares of General Electric by 0.9% in the second quarter. NorthRock Partners LLC now owns 8,842 shares of the conglomerate’s stock valued at $241,000 after buying an additional 80 shares during the period. Shapiro Capital Management LLC boosted its holdings in shares of General Electric by 0.8% in the second quarter. Shapiro Capital Management LLC now owns 18,868 shares of the conglomerate’s stock valued at $510,000 after buying an additional 147 shares during the period. Finally, CFO4Life Group LLC boosted its holdings in shares of General Electric by 0.9% in the second quarter. CFO4Life Group LLC now owns 16,610 shares of the conglomerate’s stock valued at $449,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 56.30% of the company’s stock.
Shares of GE opened at $13.06 on Monday. General Electric has a 12 month low of $12.73 and a 12 month high of $30.54. The firm has a market cap of $113,394.45, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.02. The company has a quick ratio of 1.59, a current ratio of 1.87 and a debt-to-equity ratio of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.68%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is 45.71%.
In other news, insider Alexander Dimitrief purchased 2,689 shares of the company’s stock in a transaction on Monday, January 29th. The shares were purchased 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 filing with the SEC, which is available through this link. Corporate insiders own 1.12% of the company’s stock.
Several research firms have recently weighed in on GE. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target for the company. in a report on Wednesday, January 10th. JPMorgan Chase reiterated an “underweight” rating and issued a $14.00 price target (down previously from $16.00) on shares of General Electric in a report on Monday, February 12th. Royal Bank of Canada reduced their price target on shares of General Electric to $17.00 and set a “sector perform” rating for the company in a report on Thursday, January 25th. Citigroup set a $23.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Monday, February 26th. Finally, DZ Bank reiterated a “neutral” rating on shares of General Electric in a report on Friday, January 26th. Six investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.09.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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