Hodges Capital Management Inc. reduced its stake in General Electric (NYSE:GE) by 71.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,009 shares of the conglomerate’s stock after selling 85,529 shares during the period. Hodges Capital Management Inc.’s holdings in General Electric were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Partners boosted its stake in shares of General Electric by 2.5% in the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after purchasing an additional 360,154 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of General Electric by 10.2% in the 3rd quarter. Gabelli Funds LLC now owns 2,225,000 shares of the conglomerate’s stock valued at $53,801,000 after purchasing an additional 206,644 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of General Electric by 17.3% in the 3rd quarter. Brookstone Capital Management now owns 315,454 shares of the conglomerate’s stock valued at $7,628,000 after purchasing an additional 46,415 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in shares of General Electric by 36.2% in the 3rd quarter. Hennessy Advisors Inc. now owns 328,734 shares of the conglomerate’s stock valued at $7,949,000 after purchasing an additional 87,350 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in shares of General Electric by 1.5% in the 4th quarter. DnB Asset Management AS now owns 1,178,458 shares of the conglomerate’s stock valued at $20,564,000 after purchasing an additional 17,500 shares in the last quarter. Institutional investors own 55.96% of the company’s stock.
A number of equities research analysts have recently weighed in on GE shares. Gabelli started coverage on shares of General Electric in a research note on Monday. They issued a “buy” rating and a $22.50 price target on the stock. Citigroup set a $23.00 price target on shares of General Electric and gave the company a “buy” rating in a research note on Monday, February 26th. Morningstar set a $23.50 price target on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Bank of America downgraded shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 target price on the stock. in a research report on Monday, January 22nd. Finally, JPMorgan Chase reiterated a “sell” rating and set a $16.00 target price on shares of General Electric in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $17.92.
Shares of NYSE GE opened at $15.03 on Friday. The company has a market capitalization of $130.50 billion, a PE ratio of 14.31, a PEG ratio of 2.92 and a beta of 1.02. General Electric has a 52-week low of $14.70 and a 52-week high of $14.95. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.48 and a current ratio of 1.76.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, April 20th. The conglomerate reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. The firm had revenue of $28.66 billion for the quarter, compared to the consensus estimate of $27.26 billion. General Electric had a negative net margin of 6.16% and a positive return on equity of 11.22%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 EPS. equities research analysts expect that General Electric will post 0.96 EPS for the current year.
About General Electric
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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