General Electric Company (NYSE:GE) Position Boosted by Private Advisor Group LLC
Private Advisor Group LLC increased its position in shares of General Electric Company (NYSE:GE) by 4.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 825,298 shares of the conglomerate’s stock after buying an additional 36,306 shares during the period. General Electric accounts for 0.7% of Private Advisor Group LLC’s holdings, making the stock its 19th largest position. Private Advisor Group LLC’s holdings in General Electric were worth $24,673,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in GE. Norges Bank bought a new position in General Electric during the fourth quarter worth $2,383,193,000. Harris Associates L P raised its position in General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after buying an additional 9,681,420 shares during the period. Trustees of General Electric Pension Trust bought a new position in General Electric during the fourth quarter worth $1,038,590,000. Teachers Advisors LLC raised its position in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock worth $577,734,000 after buying an additional 2,592,455 shares during the period. Finally, State of Wisconsin Investment Board raised its position in General Electric by 14.5% in the first quarter. State of Wisconsin Investment Board now owns 8,450,202 shares of the conglomerate’s stock worth $251,816,000 after buying an additional 1,067,235 shares during the period. Institutional investors and hedge funds own 54.29% of the company’s stock.
General Electric Company (NYSE:GE) opened at 25.78 on Monday. The company has a 50 day moving average price of $26.94 and a 200-day moving average price of $28.78. The company has a market capitalization of $223.20 billion, a P/E ratio of 31.40 and a beta of 1.21. General Electric Company has a 52 week low of $25.26 and a 52 week high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the prior year, the firm posted $0.51 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.72%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
GE has been the subject of a number of recent analyst reports. Deutsche Bank AG set a $24.00 price target on General Electric and gave the company a “sell” rating in a research report on Saturday, May 20th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 price objective for the company. in a research report on Tuesday, July 4th. Morgan Stanley restated an “equal weight” rating and set a $26.00 price objective (down from $27.00) on shares of General Electric in a research report on Monday, July 24th. Stifel Nicolaus raised their price objective on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Finally, Royal Bank Of Canada decreased their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $30.08.
In related news, Director James E. Rohr purchased 27,425 shares of General Electric stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $25.50 per share, with a total value of $699,337.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Beattie purchased 16,000 shares of General Electric stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average cost of $28.05 per share, with a total value of $448,800.00. The disclosure for this purchase can be found here. Insiders have purchased 149,270 shares of company stock valued at $4,113,059 over the last three months. Insiders own 0.36% of the company’s stock.
General Electric Company Profile
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.