Sumitomo Mitsui Asset Management Company LTD lowered its holdings in General Electric (NYSE:GE) by 3.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 577,902 shares of the conglomerate’s stock after selling 21,451 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in General Electric were worth $4,374,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GE. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after purchasing an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $27,000. Edge Wealth Management LLC grew its holdings in shares of General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 1,300 shares in the last quarter. NuWave Investment Management LLC grew its holdings in shares of General Electric by 170.3% during the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock worth $46,000 after purchasing an additional 3,790 shares in the last quarter. Finally, Orrstown Financial Services Inc. grew its holdings in shares of General Electric by 26.6% during the 4th quarter. Orrstown Financial Services Inc. now owns 7,139 shares of the conglomerate’s stock worth $54,000 after purchasing an additional 1,500 shares in the last quarter. 56.98% of the stock is currently owned by hedge funds and other institutional investors.
General Electric stock opened at $9.96 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.81 and a debt-to-equity ratio of 1.85. The company has a market cap of $86.48 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.33 and a beta of 0.99. General Electric has a one year low of $6.66 and a one year high of $15.59.
General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The company had revenue of $33.28 billion for the quarter, compared to the consensus estimate of $32.01 billion. General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. On average, equities research analysts forecast that General Electric will post 0.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other General Electric news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.12% of the stock is owned by company insiders.
Several analysts have recently weighed in on the company. Vertical Research raised General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $6.00 price objective on shares of General Electric in a report on Wednesday, March 6th. UBS Group set a $13.00 price objective on General Electric and gave the stock a “buy” rating in a report on Monday, December 10th. William Blair reissued a “buy” rating on shares of General Electric in a report on Monday, January 14th. Finally, Credit Suisse Group set a $10.00 price objective on General Electric and gave the stock a “neutral” rating in a report on Thursday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.44.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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