Azimuth Capital Management LLC Has $3.69 Million Stock Position in General Electric (NYSE:GE)

Azimuth Capital Management LLC trimmed its stake in shares of General Electric (NYSE:GE) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 341,345 shares of the conglomerate’s stock after selling 1,966 shares during the quarter. Azimuth Capital Management LLC’s holdings in General Electric were worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in General Electric by 0.4% during the fourth quarter. BlackRock Inc. now owns 566,506,492 shares of the conglomerate’s stock valued at $6,118,268,000 after purchasing an additional 2,194,969 shares in the last quarter. FMR LLC boosted its holdings in General Electric by 15.9% during the fourth quarter. FMR LLC now owns 480,790,647 shares of the conglomerate’s stock valued at $5,192,540,000 after purchasing an additional 65,865,371 shares in the last quarter. State Street Corp boosted its holdings in General Electric by 1.3% during the third quarter. State Street Corp now owns 351,013,062 shares of the conglomerate’s stock valued at $2,190,277,000 after purchasing an additional 4,602,725 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in General Electric by 0.7% during the fourth quarter. Pzena Investment Management LLC now owns 89,859,216 shares of the conglomerate’s stock valued at $970,480,000 after purchasing an additional 632,923 shares in the last quarter. Finally, Southeastern Asset Management Inc. TN boosted its holdings in General Electric by 12.6% during the third quarter. Southeastern Asset Management Inc. TN now owns 37,604,179 shares of the conglomerate’s stock valued at $234,274,000 after purchasing an additional 4,215,596 shares in the last quarter. 60.09% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on GE shares. Barclays boosted their target price on General Electric from $12.00 to $13.00 in a report on Thursday, January 28th. Bank of America boosted their target price on General Electric from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, December 4th. Morgan Stanley boosted their target price on General Electric from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. The Goldman Sachs Group boosted their target price on General Electric from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Monday. Finally, UBS Group boosted their target price on General Electric from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.40.

Shares of General Electric stock traded down $0.02 on Tuesday, hitting $12.48. 2,308,110 shares of the company’s stock traded hands, compared to its average volume of 75,632,070. The firm’s 50-day moving average price is $11.37 and its two-hundred day moving average price is $8.91. The stock has a market capitalization of $109.42 billion, a PE ratio of 34.72, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. General Electric has a one year low of $5.48 and a one year high of $12.70. The company has a debt-to-equity ratio of 2.10, a current ratio of 2.31 and a quick ratio of 2.04.

General Electric (NYSE:GE) last issued its earnings results on Monday, January 25th. The conglomerate reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $21.62 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The business’s revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, analysts forecast that General Electric will post 0.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 26th. Stockholders of record on Monday, March 8th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, March 5th. General Electric’s dividend payout ratio (DPR) is 6.15%.

About General Electric

General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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