IPG Investment Advisors LLC lifted its stake in General Electric (NYSE:GE) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,989 shares of the conglomerate’s stock after purchasing an additional 10,314 shares during the quarter. IPG Investment Advisors LLC’s holdings in General Electric were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of GE. Grove Bank & Trust bought a new position in General Electric in the 3rd quarter valued at approximately $274,000. Boyd Watterson Asset Management LLC OH increased its holdings in shares of General Electric by 12.8% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 39,974 shares of the conglomerate’s stock worth $451,000 after purchasing an additional 4,539 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of General Electric by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock worth $24,320,000 after purchasing an additional 20,500 shares in the last quarter. Bridgewater Associates LP bought a new stake in shares of General Electric in the 3rd quarter worth $22,723,000. Finally, Toronto Dominion Bank raised its stake in shares of General Electric by 7.7% in the third quarter. Toronto Dominion Bank now owns 6,182,118 shares of the conglomerate’s stock worth $69,780,000 after purchasing an additional 442,667 shares during the last quarter. 57.72% of the stock is currently owned by hedge funds and other institutional investors.
General Electric stock opened at $10.01 on Friday. The firm has a market cap of $86.91 billion, a P/E ratio of 15.40, a PEG ratio of 4.07 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52. General Electric has a one year low of $6.66 and a one year high of $15.59.
General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share 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 negative net margin of 18.38% and a positive return on equity of 9.85%. As a group, research analysts anticipate that General Electric will post 0.58 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Friday, March 8th. General Electric’s payout ratio is currently 6.15%.
GE has been the topic of a number of research analyst reports. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Royal Bank of Canada set a $12.00 price objective on General Electric and gave the stock a “buy” rating in a report on Tuesday, March 12th. Gabelli reiterated a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. ValuEngine raised General Electric from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Cowen restated a “hold” rating and set a $8.00 target price on shares of General Electric in a research note on Tuesday, February 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company. General Electric presently has a consensus rating of “Hold” and an average price target of $12.44.
In other news, insider Russell Stokes sold 49,904 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is owned by corporate insiders.
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General Electric Company Profile
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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