Securian Asset Management Inc. lowered its holdings in General Electric (NYSE:GE – Free Report) by 12.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,103 shares of the conglomerate’s stock after selling 10,735 shares during the period. Securian Asset Management Inc.’s holdings in General Electric were worth $8,634,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC grew its stake in shares of General Electric by 122,242.2% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock valued at $878,644,000 after buying an additional 13,427,079 shares in the last quarter. Norges Bank purchased a new stake in General Electric during the 4th quarter worth $635,274,000. State Street Corp grew its stake in General Electric by 17.3% during the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after purchasing an additional 7,157,356 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of General Electric by 106,570.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,248,759 shares of the conglomerate’s stock worth $686,426,000 after buying an additional 6,242,901 shares during the last quarter. Finally, Egerton Capital UK LLP bought a new position in General Electric during the 2nd quarter valued at $418,951,000. Hedge funds and other institutional investors own 74.83% of the company’s stock.
General Electric Stock Performance
Shares of General Electric stock traded up $0.97 during midday trading on Wednesday, hitting $129.75. The company had a trading volume of 2,036,725 shares, compared to its average volume of 3,699,372. General Electric has a 1-year low of $75.51 and a 1-year high of $129.91. The business’s 50 day simple moving average is $120.79 and its two-hundred day simple moving average is $114.77. The stock has a market cap of $141.22 billion, a PE ratio of 14.61, a P/E/G ratio of 2.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82.
General Electric (NYSE:GE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $17.35 billion during the quarter, compared to analyst estimates of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, equities analysts predict that General Electric will post 2.65 EPS for the current fiscal year.
General Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Thursday, December 28th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $0.32 dividend on an annualized basis and a yield of 0.25%. General Electric’s dividend payout ratio (DPR) is presently 3.61%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on GE. StockNews.com started coverage on shares of General Electric in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Citigroup boosted their target price on shares of General Electric from $135.00 to $148.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Barclays raised their price target on shares of General Electric from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. TheStreet downgraded shares of General Electric from a “b-” rating to a “c” rating in a research report on Tuesday, October 24th. Finally, Wells Fargo & Company raised shares of General Electric from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $115.00 to $144.00 in a report on Friday, December 15th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.43.
General Electric Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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.