Capital Investment Advisors LLC decreased its stake in General Electric (NYSE: GE – Get Rating) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,929 shares of the conglomerate’s stock after selling 867 shares during the period. Capital Investment Advisors LLC’s holdings in General Electric were worth $1,183,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of GE. Missouri Trust & Investment Co. purchased a new stake in shares of General Electric in the fourth quarter worth about $27,000. Benjamin Edwards Inc. boosted its position in shares of General Electric by 325.0% in the fourth quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock worth $27,000 after buying an additional 221 shares during the period. Covestor Ltd purchased a new position in General Electric in the fourth quarter valued at about $31,000. FSB Premier Wealth Management Inc. A new position in General Electric in the fourth quarter valued at purchased about $32,000. Finally, Emerson Wealth LLC purchased a new position in General Electric in the fourth quarter valued at about $32,000. 67.37% of the stock is owned by institutional investors.
In related news, major shareholder Electric Co General sold 72,025,826 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $34.45, for a total value of $2,481,289,705.70. Following the sale, the insider now directly owns 3,931,363 shares in the company, valued at approximately $135,435,455.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO H Lawrence Culp, Jr. bought 65,000 shares of the stock in a transaction that occurred on Monday, May 2nd. The stock was acquired at an average price of $74.53 per share, for a total transaction of $4,844,450.00. Following the completion of the transaction, the chief executive officer now owns 211,210 shares in the company, valued at $15,741,481.30. The disclosure for this purchase can be found here. Insiders have bought a total of 69,801 shares of company stock worth $5,207,705 over the last quarter. Insiders own 0.70% of the company’s stock.
Shares of General Electric stock opened at $67.08 on Friday. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. The business’s 50 day simple moving average is $76.04 and its 200-day simple moving average is $88.32. The stock has a market capitalization of $73.83 billion, a price-to-earnings ratio of -14.65, a PEG ratio of 3.27 and a beta of 1.01. General Electric has a twelve month low of $63.08 and a twelve month high of $116.17.
General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $17.04 billion for the quarter, compared to analysts’ expectations of $16.92 billion. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. Sell-side analysts predict that General Electric will post 2.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 27th. General Electric’s payout ratio is -6.99%.
A number of brokerages recently commented on GE. Royal Bank of Canada increased their price target on General Electric from $113.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, March 11th. The Goldman Sachs Group reduced their price target on General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reduced their price target on General Electric from $112.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, May 31st. Barclays reduced their price target on General Electric from $100.00 to $96.00 and set an “overweight” rating for the company in a report on Tuesday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on General Electric from $118.00 to 107.00 in a report on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.36.
General Electric 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.
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