Sadoff Investment Management LLC acquired a new stake in General Electric (NYSE:GE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,826,750 shares of the conglomerate’s stock, valued at approximately $53,867,000. General Electric accounts for about 4.2% of Sadoff Investment Management LLC’s holdings, making the stock its 5th biggest holding.
Several other institutional investors have also recently added to or reduced their stakes in the company. Manchester Financial Inc. bought a new stake in General Electric in the fourth quarter valued at approximately $29,000. Venturi Wealth Management LLC bought a new stake in General Electric in the third quarter valued at approximately $25,000. Simon Quick Advisors LLC boosted its holdings in General Electric by 441.7% in the fourth quarter. Simon Quick Advisors LLC now owns 3,039 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 2,478 shares during the last quarter. Princeton Global Asset Management LLC boosted its holdings in General Electric by 307,700.0% in the second quarter. Princeton Global Asset Management LLC now owns 3,078 shares of the conglomerate’s stock valued at $32,000 after acquiring an additional 3,077 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in General Electric in the third quarter valued at approximately $41,000. 60.11% of the stock is owned by institutional investors.
Shares of GE traded down $0.26 during trading hours on Friday, reaching $12.47. The stock had a trading volume of 45,182,197 shares, compared to its average volume of 66,018,484. General Electric has a 12 month low of $7.65 and a 12 month high of $13.00. The firm has a 50-day simple moving average of $11.59 and a 200 day simple moving average of $10.17. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 2.67. The company has a market capitalization of $108.73 billion, a price-to-earnings ratio of -20.11, a P/E/G ratio of 3.20 and a beta of 1.16.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, January 29th. The conglomerate reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. General Electric had a positive return on equity of 12.83% and a negative net margin of 4.71%. The company had revenue of $26.24 billion for the quarter, compared to analysts’ expectations of $25.77 billion. During the same period last year, the business earned $0.17 EPS. General Electric’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts forecast that General Electric will post 0.6 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, January 27th. Investors of record on Monday, December 23rd were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, December 20th. General Electric’s dividend payout ratio is currently 6.15%.
A number of equities analysts have issued reports on GE shares. Credit Suisse Group restated a “hold” rating and set a $11.00 price target on shares of General Electric in a report on Wednesday. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday. Cowen restated a “hold” rating and set a $8.00 price target on shares of General Electric in a report on Wednesday. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, UBS Group upgraded General Electric from a “neutral” rating to a “buy” rating and increased their price target for the stock from $11.50 to $14.00 in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $11.73.
General Electric 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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