Shelton Capital Management decreased its position in shares of General Electric (NYSE:GE) by 26.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,312 shares of the conglomerate’s stock after selling 69,394 shares during the period. Shelton Capital Management’s holdings in General Electric were worth $4,747,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Toronto Dominion Bank grew its holdings in General Electric by 21.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,375,683 shares of the conglomerate’s stock valued at $91,179,000 after buying an additional 593,686 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in General Electric by 5.4% during the 3rd quarter. Palouse Capital Management Inc. now owns 190,591 shares of the conglomerate’s stock valued at $4,608,000 after buying an additional 9,755 shares in the last quarter. Destination Wealth Management grew its holdings in General Electric by 5.6% during the 2nd quarter. Destination Wealth Management now owns 775,177 shares of the conglomerate’s stock valued at $20,938,000 after buying an additional 41,100 shares in the last quarter. Boston Partners grew its holdings in General Electric by 2.5% during the 3rd quarter. Boston Partners now owns 14,588,765 shares of the conglomerate’s stock valued at $352,756,000 after buying an additional 360,154 shares in the last quarter. Finally, Berkshire Asset Management LLC PA grew its holdings in General Electric by 4.0% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 958,533 shares of the conglomerate’s stock valued at $23,177,000 after buying an additional 36,870 shares in the last quarter. Institutional investors own 56.42% of the company’s stock.
A number of equities research analysts have issued reports on GE shares. Morningstar set a $23.50 price objective on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, January 23rd. Citigroup cut their price objective on shares of General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Stifel Nicolaus set a $18.00 price objective on shares of General Electric and gave the company a “neutral” rating in a report on Monday, December 11th. Cowen reaffirmed a “market perform” rating and set a $15.00 price objective (down from $17.00) on shares of General Electric in a report on Monday, February 26th. Finally, UBS started coverage on shares of General Electric in a report on Tuesday, January 23rd. They set a “neutral” rating and a $17.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $18.27.
In related news, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.36% of the stock is owned by company insiders.
General Electric (NYSE:GE) opened at $14.31 on Friday. General Electric has a fifty-two week low of $13.95 and a fifty-two week high of $30.54. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.59. The firm has a market cap of $124,681.79, a price-to-earnings ratio of -19.87, a P/E/G ratio of 2.72 and a beta of 1.00.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The business had revenue of $31.40 billion during the quarter, compared to analysts’ expectations of $33.93 billion. During the same period last year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. research analysts predict that General Electric will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.35%. General Electric’s dividend payout ratio is presently -66.67%.
General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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