Equitable Trust Co. lessened its position in shares of General Electric (NYSE:GE) by 32.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,551 shares of the conglomerate’s stock after selling 19,979 shares during the quarter. Equitable Trust Co.’s holdings in General Electric were worth $322,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Quad Capital Management Advisors LLC increased its position in General Electric by 55.3% in the fourth quarter. Quad Capital Management Advisors LLC now owns 34,494 shares of the conglomerate’s stock worth $261,000 after buying an additional 12,283 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in General Electric by 7.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock valued at $755,819,000 after buying an additional 7,194,723 shares during the last quarter. PFG Advisors bought a new position in General Electric during the fourth quarter valued at approximately $549,000. Executive Wealth Management LLC bought a new position in General Electric during the fourth quarter valued at approximately $36,000. Finally, Pathlight Investors LLC bought a new position in General Electric during the fourth quarter valued at approximately $628,000. Institutional investors own 57.87% of the company’s stock.
Several equities research analysts have recently issued reports on GE shares. Royal Bank of Canada set a $12.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, March 18th. Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Monday, May 20th. William Blair reiterated a “buy” rating on shares of General Electric in a report on Thursday, May 23rd. Citigroup set a $14.00 price target on General Electric and gave the stock a “buy” rating in a report on Wednesday, June 19th. Finally, ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $11.89.
GE traded up $0.10 on Friday, reaching $10.50. 39,526,370 shares of the stock were exchanged, compared to its average volume of 80,851,070. The firm’s 50-day moving average is $10.00. The stock has a market capitalization of $90.91 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 2.34 and a beta of 0.98. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $14.29. The company has a quick ratio of 1.50, a current ratio of 1.77 and a debt-to-equity ratio of 1.62.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The firm had revenue of $27.29 billion during the quarter, compared to analyst estimates of $27.31 billion. During the same quarter in the previous year, the business earned $0.16 EPS. General Electric’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, equities analysts anticipate that General Electric will post 0.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Monday, July 1st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.38%. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
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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