SPC Financial Inc. lowered its stake in shares of General Electric (NYSE:GE) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,925 shares of the conglomerate’s stock after selling 3,315 shares during the quarter. SPC Financial Inc.’s holdings in General Electric were worth $242,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in GE. FMR LLC grew its holdings in General Electric by 158.6% during the second quarter. FMR LLC now owns 205,696,411 shares of the conglomerate’s stock worth $2,799,528,000 after buying an additional 126,169,069 shares in the last quarter. Canyon Capital Advisors LLC bought a new stake in General Electric during the third quarter worth $200,510,000. Pzena Investment Management LLC grew its holdings in General Electric by 95.6% during the third quarter. Pzena Investment Management LLC now owns 33,345,586 shares of the conglomerate’s stock worth $376,472,000 after buying an additional 16,297,449 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in General Electric by 13.3% during the third quarter. The Manufacturers Life Insurance Company now owns 102,536,305 shares of the conglomerate’s stock worth $1,157,635,000 after buying an additional 12,033,153 shares in the last quarter. Finally, Capital International Investors grew its holdings in General Electric by 116.9% during the third quarter. Capital International Investors now owns 16,717,391 shares of the conglomerate’s stock worth $188,739,000 after buying an additional 9,009,515 shares in the last quarter. Institutional investors and hedge funds own 56.98% of the company’s stock.
In other news, insider Russell Stokes sold 49,904 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 1.12% of the stock is owned by corporate insiders.
General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The firm had revenue of $33.28 billion for the quarter, compared to analysts’ expectations of $32.01 billion. As a group, research analysts expect that General Electric will post 0.65 EPS for the current fiscal year.
The company 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. The ex-dividend date is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.40%. General Electric’s dividend payout ratio is presently 6.15%.
Several equities research analysts recently issued reports on GE shares. Argus upgraded General Electric from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. William Blair reiterated a “buy” rating on shares of General Electric in a report on Monday, January 14th. Morningstar set a $13.70 price target on General Electric and gave the stock a “buy” rating in a report on Wednesday, November 21st. Royal Bank of Canada reiterated a “buy” rating and set a $13.00 price target on shares of General Electric in a report on Tuesday, November 20th. Finally, UBS Group set a $13.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, December 10th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have given a buy rating to the company. General Electric has a consensus rating of “Hold” and an average target price of $12.44.
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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