Alliance Wealth Advisors LLC cut its stake in shares of General Electric (NYSE:GE) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,669 shares of the conglomerate’s stock after selling 1,440 shares during the period. Alliance Wealth Advisors LLC’s holdings in General Electric were worth $376,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in General Electric during the fourth quarter worth about $714,522,000. FMR LLC grew its position 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 valued at $5,192,540,000 after purchasing an additional 65,865,371 shares during the last quarter. Viking Global Investors LP acquired a new position in shares of General Electric in the fourth quarter valued at approximately $315,360,000. Bessemer Group Inc. grew its position 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 valued at $143,502,000 after purchasing an additional 13,144,071 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of General Electric in the fourth quarter valued at approximately $82,781,000. 60.09% of the stock is owned by institutional investors and hedge funds.
NYSE GE traded down $0.13 on Friday, reaching $13.55. The company had a trading volume of 50,881,784 shares, compared to its average volume of 81,614,219. The firm has a market cap of $119.03 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 8.61 and a beta of 1.06. General Electric has a fifty-two week low of $5.48 and a fifty-two week high of $14.41. The business has a 50 day moving average of $13.19 and a two-hundred day moving average of $10.67. 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, March 8th will be issued a $0.01 dividend. The ex-dividend date is Friday, March 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. General Electric’s payout ratio is 6.15%.
In related news, Director Paula Rosput Reynolds acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The stock was acquired at an average cost of $12.50 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the director now directly owns 26,500 shares of the company’s stock, valued at approximately $331,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.
Several research firms have recently commented on GE. Barclays upped their target price on General Electric from $15.00 to $13.00 in a research report on Thursday, March 11th. Oppenheimer reaffirmed a “market perform” rating on shares of General Electric in a research report on Wednesday, March 17th. UBS Group upped their target price on General Electric from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, April 9th. Bank of America reaffirmed a “buy” rating and issued a $15.00 target price on shares of General Electric in a research report on Monday, March 15th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of General Electric in a research note on Tuesday, January 26th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $12.93.
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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