General Electric (GE) Shares Sold by AQR Capital Management LLC
AQR Capital Management LLC lowered its stake in General Electric (NYSE:GE) by 83.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,639 shares of the conglomerate’s stock after selling 103,958 shares during the quarter. AQR Capital Management LLC’s holdings in General Electric were worth $233,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Greenline Partners LLC grew its position in General Electric by 20.7% in the 3rd quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock valued at $1,503,000 after purchasing an additional 22,584 shares during the period. ST Germain D J Co. Inc. grew its position in General Electric by 2.2% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after purchasing an additional 24,812 shares during the period. Grove Bank & Trust acquired a new stake in General Electric in the 3rd quarter valued at $274,000. Boyd Watterson Asset Management LLC OH grew its position in General Electric by 12.8% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 39,974 shares of the conglomerate’s stock valued at $451,000 after purchasing an additional 4,539 shares during the period. Finally, Arizona State Retirement System grew its position in General Electric by 1.0% in the 3rd quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock valued at $24,320,000 after purchasing an additional 20,500 shares during the period. Institutional investors own 54.40% of the company’s stock.
GE opened at $10.06 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.14. The firm has a market cap of $92.30 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 3.40 and a beta of 0.99. General Electric has a 1 year low of $6.66 and a 1 year high of $15.59.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Thursday, December 20th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, December 19th. General Electric’s dividend payout ratio is 6.15%.
Several analysts recently issued reports on GE shares. ValuEngine raised shares of General Electric from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Credit Suisse Group reissued a “neutral” rating and issued a $12.00 price target on shares of General Electric in a research report on Wednesday, October 31st. Zacks Investment Research raised shares of General Electric from a “strong sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank reduced their price target on shares of General Electric from $11.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, November 30th. Finally, Bank of America reissued a “hold” rating and issued a $11.00 price target on shares of General Electric in a research report on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $13.04.
In related news, Director Francisco Dsouza purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were bought at an average cost of $8.32 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.12% of the stock is owned by insiders.
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About General Electric
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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