Cornell Pochily Investment Advisors Inc. boosted its position in General Electric (NYSE:GE) by 114.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,487 shares of the conglomerate’s stock after purchasing an additional 17,317 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in General Electric were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CNB Bank raised its position in shares of General Electric by 7.0% during the 4th quarter. CNB Bank now owns 34,786 shares of the conglomerate’s stock valued at $263,000 after buying an additional 2,288 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of General Electric during the 4th quarter valued at $6,507,000. Oregon Public Employees Retirement Fund raised its position in shares of General Electric by 1,719.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,319,274 shares of the conglomerate’s stock valued at $2,288,000 after buying an additional 16,367,170 shares in the last quarter. Allen Investment Management LLC raised its position in shares of General Electric by 50.4% during the 4th quarter. Allen Investment Management LLC now owns 832,696 shares of the conglomerate’s stock valued at $6,304,000 after buying an additional 278,936 shares in the last quarter. Finally, Garrison Financial Corp raised its position in shares of General Electric by 75.9% during the 4th quarter. Garrison Financial Corp now owns 102,557 shares of the conglomerate’s stock valued at $3,038,000 after buying an additional 44,240 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.
Several equities analysts recently commented on GE shares. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Vertical Research raised shares of General Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $6.00 target price on shares of General Electric in a report on Wednesday, March 6th. William Blair reaffirmed a “buy” rating on shares of General Electric in a report on Monday, January 14th. Finally, ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.39.
In other General Electric news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the sale, the insider now owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.13% of the stock is owned by company insiders.
Shares of General Electric stock opened at $9.14 on Wednesday. The firm has a market capitalization of $78.14 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 3.98 and a beta of 0.99. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81.
General Electric (NYSE:GE) last announced its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $33.28 billion during 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%. Research analysts expect that General Electric will post 0.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
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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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