WINTON GROUP Ltd purchased a new position in General Electric (NYSE:GE) in the 4th quarter, Holdings Channel reports. The fund purchased 859,558 shares of the conglomerate’s stock, valued at approximately $6,507,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Hollencrest Capital Management grew its position in General Electric by 4.5% in the third quarter. Hollencrest Capital Management now owns 191,958 shares of the conglomerate’s stock valued at $2,167,000 after purchasing an additional 8,345 shares in the last quarter. First Command Financial Services Inc. grew its position in General Electric by 12.0% in the third quarter. First Command Financial Services Inc. now owns 91,708 shares of the conglomerate’s stock valued at $1,036,000 after purchasing an additional 9,856 shares in the last quarter. Arlington Partners LLC grew its position in General Electric by 366.7% in the third quarter. Arlington Partners LLC now owns 14,000 shares of the conglomerate’s stock valued at $158,000 after purchasing an additional 11,000 shares in the last quarter. Augustine Asset Management Inc. grew its position in General Electric by 38.9% in the third quarter. Augustine Asset Management Inc. now owns 27,355 shares of the conglomerate’s stock valued at $308,000 after purchasing an additional 7,660 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in General Electric by 14.9% in the third quarter. Steward Partners Investment Advisory LLC now owns 284,368 shares of the conglomerate’s stock valued at $3,211,000 after purchasing an additional 36,826 shares in the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. downgraded shares of General Electric from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $6.00 to $5.00 in a research report on Monday, April 8th. Royal Bank of Canada set a $12.00 target price on shares of General Electric and gave the company a “buy” rating in a research report on Tuesday, March 12th. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $11.00 target price on shares of General Electric in a research report on Friday, March 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.39.
General Electric (NYSE:GE) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $32.01 billion. On average, research analysts forecast that General Electric will post 0.53 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In related news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the sale, 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 is accessible through this link. Company insiders own 1.13% of the company’s stock.
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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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