Skandinaviska Enskilda Banken AB publ Has $14.25 Million Holdings in General Electric (GE)
Skandinaviska Enskilda Banken AB publ lifted its stake in shares of General Electric (NYSE:GE) by 1.1% in the third quarter, HoldingsChannel reports. The firm owned 589,296 shares of the conglomerate’s stock after buying an additional 6,522 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in General Electric were worth $14,249,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its stake in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. BlackRock Inc. grew its stake in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital Research Global Investors grew its stake in General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Boston Partners grew its stake in General Electric by 7,892.3% during the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after acquiring an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in General Electric by 1,011.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after acquiring an additional 13,315,605 shares in the last quarter. 55.17% of the stock is owned by institutional investors and hedge funds.
General Electric (NYSE GE) opened at $14.12 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.87 and a debt-to-equity ratio of 1.32. The firm has a market cap of $121,729.72, a PE ratio of -19.61, a price-to-earnings-growth ratio of 2.66 and a beta of 1.00. General Electric has a fifty-two week low of $13.95 and a fifty-two week high of $30.54.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.40%. General Electric’s payout ratio is -66.67%.
In related news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.
Several analysts recently issued reports on GE shares. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $16.00 price objective (down previously from $17.00) on shares of General Electric in a research note on Monday, January 8th. Goldman Sachs Group set a $22.00 price objective on shares of General Electric and gave the company a “neutral” rating in a research note on Tuesday, November 14th. Citigroup dropped their price objective on shares of General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Morningstar set a $23.50 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Finally, Bank of America cut shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research note on Monday, January 22nd. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $18.50.
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General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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