Hyman Charles D trimmed its stake in General Electric (NYSE:GE – Get Rating) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,173 shares of the conglomerate's stock after selling 865 shares during the period. Hyman Charles D's holdings in General Electric were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in the stock. FDx Advisors Inc. lifted its position in shares of General Electric by 11.9% in the 4th quarter. FDx Advisors Inc. now owns 3,476 shares of the conglomerate's stock worth $328,000 after purchasing an additional 370 shares during the period. Fisher Asset Management LLC lifted its position in shares of General Electric by 6.8% in the 4th quarter. Fisher Asset Management LLC now owns 19,508 shares of the conglomerate's stock worth $1,843,000 after purchasing an additional 1,234 shares during the period. Missouri Trust & Investment Co purchased a new stake in shares of General Electric in the 4th quarter worth approximately $27,000. Sage Mountain Advisors LLC lifted its position in shares of General Electric by 23.6% in the 4th quarter. Sage Mountain Advisors LLC now owns 3,376 shares of the conglomerate's stock worth $319,000 after purchasing an additional 644 shares during the period. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of General Electric in the 4th quarter worth approximately $210,000. 67.37% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
GE has been the subject of a number of analyst reports. Credit Suisse Group decreased their target price on shares of General Electric from $86.00 to $84.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. UBS Group decreased their target price on shares of General Electric from $113.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, August 4th. Barclays decreased their target price on shares of General Electric from $96.00 to $81.00 and set an "overweight" rating for the company in a research report on Friday, July 8th. Bank of America cut their price target on shares of General Electric from $132.00 to $120.00 in a research note on Wednesday, April 27th. Finally, Morgan Stanley cut their price target on shares of General Electric from $100.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 12th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $103.21.
General Electric Price Performance
General Electric stock opened at $75.48 on Tuesday. General Electric has a 12-month low of $59.93 and a 12-month high of $116.17. The stock has a market cap of $82.77 billion, a P/E ratio of -17.73, a PEG ratio of 3.88 and a beta of 1.11. The company has a 50-day moving average price of $68.83 and a 200 day moving average price of $81.75. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.38 by $0.40. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The business had revenue of $18.65 billion during the quarter, compared to analysts' expectations of $17.90 billion. During the same period last year, the business earned $0.40 earnings per share. The business's revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts anticipate that General Electric will post 2.74 earnings per share for the current year.
General Electric Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Tuesday, June 28th were paid a $0.08 dividend. The ex-dividend date was Monday, June 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. General Electric's dividend payout ratio is currently -7.55%.
About General Electric
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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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