Calamos Advisors LLC increased its stake in shares of General Electric (NYSE:GE) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,341,813 shares of the conglomerate’s stock after acquiring an additional 13,533 shares during the period. Calamos Advisors LLC’s holdings in General Electric were worth $30,748,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in General Electric in the fourth quarter valued at approximately $714,522,000. FMR LLC lifted its position in shares of General Electric by 15.9% in the fourth quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock valued at $5,192,540,000 after acquiring an additional 65,865,371 shares in the last quarter. Viking Global Investors LP purchased a new position in shares of General Electric in the fourth quarter valued at approximately $315,360,000. Bessemer Group Inc. lifted its position in shares of General Electric by 9,183.8% in the fourth quarter. Bessemer Group Inc. now owns 13,287,193 shares of the conglomerate’s stock valued at $143,502,000 after acquiring an additional 13,144,071 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of General Electric in the fourth quarter valued at approximately $82,781,000. 60.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on GE shares. Cowen reiterated a “hold” rating and set a $10.00 price objective on shares of General Electric in a research report on Thursday, March 11th. Bank of America reiterated a “buy” rating and set a $15.00 price objective on shares of General Electric in a research report on Monday, March 15th. The Goldman Sachs Group set a $15.00 target price on General Electric and gave the company a “buy” rating in a research report on Wednesday, March 17th. UBS Group lifted their price objective on General Electric from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their price objective on General Electric from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Thursday, March 11th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $12.93.
General Electric stock opened at $13.59 on Tuesday. General Electric has a fifty-two week low of $5.48 and a fifty-two week high of $14.41. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.04 and a current ratio of 2.31. The company has a market capitalization of $119.38 billion, a P/E ratio of 37.75, a PEG ratio of 8.61 and a beta of 1.06. The stock has a 50-day simple moving average of $13.12 and a 200-day simple moving average of $10.56.
General Electric (NYSE:GE) last posted its quarterly earnings data on Monday, January 25th. The conglomerate reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The company had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.62 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The firm’s revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, analysts forecast that General Electric will post 0.04 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 26th. Shareholders of record on Monday, March 8th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, March 5th. General Electric’s dividend payout ratio is presently 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.
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