HCR Wealth Advisors Increases Stake in General Electric (GE)
HCR Wealth Advisors grew its position in General Electric (NYSE:GE) by 11.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 31,946 shares of the conglomerate’s stock after acquiring an additional 3,264 shares during the period. HCR Wealth Advisors’ holdings in General Electric were worth $772,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in GE. Vanguard Group Inc. raised its position in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after purchasing an additional 3,297,890 shares during the last quarter. BlackRock Inc. raised its position in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital World Investors raised its position in General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after purchasing an additional 11,194,678 shares during the last quarter. Capital Research Global Investors raised its position 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 worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. Institutional investors own 55.17% of the company’s stock.
Shares of General Electric (NYSE:GE) opened at $14.12 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.87 and a quick ratio of 1.53. The company has a market capitalization of $122,597.98, a PE ratio of 13.45, a PEG ratio of 2.68 and a beta of 1.00. General Electric has a 12 month low of $13.95 and a 12 month high of $30.54.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a dividend yield of 3.40%. General Electric’s dividend payout ratio is presently -66.67%.
GE has been the subject of several analyst reports. Bank of America reaffirmed a “buy” rating and set a $23.00 target price (down from $27.00) on shares of General Electric in a research report on Tuesday, November 14th. Morningstar reaffirmed a “buy” rating on shares of General Electric in a research report on Tuesday, November 14th. Citigroup set a $25.00 price objective on General Electric and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a research report on Wednesday, January 10th. Finally, TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $18.50.
In other news, insider Alexander Dimitrief bought 2,689 shares of General Electric stock in a transaction dated Monday, January 29th. The stock was bought at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now directly owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.36% of the company’s stock.
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About General Electric
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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