DekaBank Deutsche Girozentrale lifted its position in General Electric (NYSE:GE) by 7.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,448,009 shares of the conglomerate’s stock after buying an additional 172,636 shares during the period. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $25,928,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of GE. Norges Bank bought a new position in shares of General Electric in the fourth quarter worth approximately $714,522,000. FMR LLC lifted its stake in shares of General Electric by 15.9% in the fourth quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock worth $5,192,540,000 after buying an additional 65,865,371 shares in the last quarter. Viking Global Investors LP bought a new position in shares of General Electric in the fourth quarter worth approximately $315,360,000. Bessemer Group Inc. lifted its stake in shares of General Electric by 9,183.8% in the fourth quarter. Bessemer Group Inc. now owns 13,287,193 shares of the conglomerate’s stock worth $143,502,000 after buying an additional 13,144,071 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in General Electric during the fourth quarter valued at approximately $82,781,000. Hedge funds and other institutional investors own 60.09% of the company’s stock.
A number of research analysts recently weighed in on GE shares. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $14.00 price objective on the stock in a research report on Wednesday, March 31st. Cowen restated a “hold” rating and set a $10.00 price objective on shares of General Electric in a research report on Thursday, March 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Electric from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, March 17th. Morgan Stanley increased their price objective on shares of General Electric from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, March 10th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $13.00 price target on shares of General Electric in a research report on Monday, March 8th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.60.
Shares of NYSE GE opened at $13.39 on Thursday. The firm has a fifty day moving average price of $12.96 and a 200-day moving average price of $10.38. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04. The stock has a market cap of $117.63 billion, a PE ratio of 37.19, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. General Electric has a 1 year low of $5.48 and a 1 year high of $14.41.
General Electric (NYSE:GE) last announced its quarterly earnings data on Monday, January 25th. The conglomerate reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $21.62 billion. General Electric had a return on equity of 5.37% and a net margin of 4.52%. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, research analysts expect that General Electric will post 0.04 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, March 8th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 5th. This represents a $0.04 annualized dividend and a yield of 0.30%. General Electric’s payout ratio is 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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