Masters Capital Management LLC Acquires Shares of 2,000,000 General Electric (GE)
Masters Capital Management LLC acquired a new position in shares of General Electric (NYSE:GE) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,000,000 shares of the conglomerate’s stock, valued at approximately $15,140,000. General Electric accounts for approximately 0.8% of Masters Capital Management LLC’s investment portfolio, making the stock its 26th biggest position.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of General Electric by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 635,893,221 shares of the conglomerate’s stock worth $7,179,235,000 after purchasing an additional 6,167,111 shares in the last quarter. Vanguard Group Inc boosted its stake in General Electric by 1.0% in the 3rd quarter. Vanguard Group Inc now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after buying an additional 6,167,111 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in General Electric by 13.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 102,536,305 shares of the conglomerate’s stock valued at $1,157,635,000 after buying an additional 12,033,153 shares in the last quarter. Northern Trust Corp boosted its stake in General Electric by 0.8% in the 4th quarter. Northern Trust Corp now owns 101,447,654 shares of the conglomerate’s stock valued at $767,959,000 after buying an additional 763,673 shares in the last quarter. Finally, Pzena Investment Management LLC boosted its stake in General Electric by 90.0% in the 4th quarter. Pzena Investment Management LLC now owns 63,363,498 shares of the conglomerate’s stock valued at $479,662,000 after buying an additional 30,017,912 shares in the last quarter. 57.73% of the stock is currently owned by institutional investors.
Shares of GE opened at $10.26 on Thursday. 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 has a 52-week low of $6.66 and a 52-week high of $15.59. The firm has a market capitalization of $85.70 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, March 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.39%. General Electric’s payout ratio is 6.15%.
In other General Electric news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the transaction, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.13% of the company’s stock.
Several brokerages recently commented on GE. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $6.00 price target on shares of General Electric in a research note on Wednesday, March 6th. ValuEngine raised General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $12.00 price target on shares of General Electric in a research note on Wednesday, March 6th. Finally, Vertical Research lowered General Electric from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a research note on Thursday, January 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $12.33.
About General Electric
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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