Brightworth grew its position in shares of General Electric (NYSE:GE) by 90.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,245 shares of the conglomerate’s stock after acquiring an additional 6,772 shares during the quarter. Brightworth’s holdings in General Electric were worth $344,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares in the last quarter. BlackRock Inc. raised its stake in shares of General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares in the last quarter. Capital Research Global Investors raised its stake in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares in the last quarter. Boston Partners raised its stake in shares of General Electric by 7,892.3% during the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of General Electric by 1,011.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after purchasing an additional 13,315,605 shares in the last quarter. 55.63% of the stock is owned by hedge funds and other institutional investors.
Shares of General Electric (GE) opened at $18.76 on Friday. General Electric has a 12 month low of $17.25 and a 12 month high of $31.47. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $162,690.00, a price-to-earnings ratio of 21.81, a P/E/G ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. equities analysts expect that General Electric will post 1.07 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 2.56%. The ex-dividend date is Tuesday, December 26th. General Electric’s payout ratio is 55.81%.
A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Tuesday, September 19th. Citigroup set a $28.00 price target on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS Group cut General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Vetr cut General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research note on Wednesday. Finally, Royal Bank of Canada cut General Electric from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Six analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $23.19.
In other news, Director Steven M. Mollenkopf acquired 5,500 shares of the stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the transaction, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John Leonard Flannery acquired 60,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders have acquired a total of 120,500 shares of company stock worth $2,183,220 in the last quarter. Company insiders own 0.36% of the company’s stock.
General Electric Company Profile
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