Herold Advisors Inc. reduced its holdings in General Electric (NYSE:GE – Get Rating) by 32.2% during the 1st quarter, Holdings Channel reports. The fund owned 2,995 shares of the conglomerate's stock after selling 1,425 shares during the period. Herold Advisors Inc.'s holdings in General Electric were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Missouri Trust & Investment Co purchased a new stake in General Electric during the fourth quarter worth $27,000. Benjamin Edwards Inc. boosted its holdings in General Electric by 325.0% during the fourth quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate's stock worth $27,000 after buying an additional 221 shares in the last quarter. Covestor Ltd purchased a new stake in General Electric during the fourth quarter worth $31,000. Emerson Wealth LLC purchased a new stake in General Electric during the fourth quarter worth $32,000. Finally, FSB Premier Wealth Management Inc. purchased a new stake in General Electric during the fourth quarter worth $32,000. 67.37% of the stock is owned by hedge funds and other institutional investors.
Get
General Electric alerts:
Wall Street Analyst Weigh In
GE has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective on shares of General Electric from $100.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, July 12th. Wells Fargo & Company increased their price objective on shares of General Electric to $73.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $90.00 to $88.00 in a report on Wednesday, July 27th. Credit Suisse Group decreased their price objective on shares of General Electric from $86.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. Finally, The Goldman Sachs Group decreased their price objective on shares of General Electric from $108.00 to $82.00 and set a "buy" rating on the stock in a report on Thursday, June 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $103.21.
General Electric Price Performance
Shares of NYSE GE opened at $75.18 on Tuesday. The firm has a 50-day simple moving average of $68.83 and a 200-day simple moving average of $81.75. The stock has a market capitalization of $82.44 billion, a price-to-earnings ratio of -17.73, a price-to-earnings-growth ratio of 3.88 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.13 and a debt-to-equity ratio of 0.77. General Electric has a 52 week low of $59.93 and a 52 week high of $116.17.
General Electric (NYSE:GE – Get Rating) last released its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm 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. General Electric's revenue was up 2.2% compared to the same quarter last year. On average, equities analysts predict that General Electric will post 2.74 earnings per share for the current fiscal year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Tuesday, June 28th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 27th. General Electric's payout ratio is currently -7.55%.
General Electric Company Profile
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on General Electric (GE)
- Home Depot, Lowe's On Track To Grow 2022 Earnings
- Could Smaller be Better for Investors in Norwegian Cruise Lines?
- Walmart Or Target: Which Is The Stronger Stock?
- Can Etsy Continue to Thrive After the Pandemic?
- MarketBeat Podcast: Investing in What You Know Has Changed
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE – Get Rating).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.
