Bard Financial Services Inc. Makes New Investment in General Electric (NYSE:GE)

Bard Financial Services Inc. purchased a new position in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 277,995 shares of the conglomerate’s stock, valued at approximately $3,002,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Savior LLC lifted its stake in General Electric by 157.7% during the fourth quarter. Savior LLC now owns 2,564 shares of the conglomerate’s stock worth $28,000 after purchasing an additional 1,569 shares during the period. TD Ameritrade Investment Management LLC bought a new position in shares of General Electric in the fourth quarter valued at approximately $31,000. Perkins Coie Trust Co bought a new position in shares of General Electric in the fourth quarter valued at approximately $32,000. Childress Capital Advisors LLC bought a new position in shares of General Electric in the fourth quarter valued at approximately $35,000. Finally, Accel Wealth Management bought a new position in shares of General Electric in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 60.09% of the company’s stock.

In related news, Director Paula Rosput Reynolds purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 12th. The shares were acquired at an average price of $12.50 per share, for a total transaction of $62,500.00. Following the purchase, the director now owns 26,500 shares in the company, valued at $331,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on GE shares. Cowen reaffirmed a “hold” rating and issued a $10.00 target price on shares of General Electric in a research note on Thursday, March 11th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of General Electric in a research note on Tuesday, January 26th. Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating and set a $14.00 target price for the company in a research note on Wednesday, March 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of General Electric from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, March 17th. Finally, Argus boosted their price target on shares of General Electric from $10.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, December 10th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.60.

Shares of GE opened at $13.39 on Thursday. General Electric has a 52 week low of $5.48 and a 52 week high of $14.41. The firm has a market cap of $117.63 billion, a P/E ratio of 37.19, a price-to-earnings-growth ratio of 8.61 and a beta of 1.06. The firm’s 50-day simple moving average is $12.96 and its 200 day simple moving average is $10.38. The company has a debt-to-equity ratio of 2.10, a quick ratio of 2.04 and a current ratio of 2.31.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, April 26th. Investors of record on Monday, March 8th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. General Electric’s dividend payout ratio (DPR) is currently 6.15%.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

Further Reading: Percentage Decliners

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

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