Bridges Investment Management Inc. increased its holdings in General Electric (NYSE:GE) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,335 shares of the conglomerate’s stock after buying an additional 8,886 shares during the quarter. Bridges Investment Management Inc.’s holdings in General Electric were worth $1,075,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Firestone Capital Management acquired a new stake in shares of General Electric during the 4th quarter valued at $212,000. CBIZ Investment Advisory Services LLC acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $25,000. CLS Investments LLC increased its holdings in shares of General Electric by 2,300.0% in the fourth quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 2,300 shares in the last quarter. Pacifica Partners Inc. acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $28,000. Finally, Manchester Financial Inc. acquired a new stake in shares of General Electric in the fourth quarter valued at approximately $29,000. 62.53% of the stock is owned by institutional investors and hedge funds.
GE has been the topic of several research reports. Gordon Haskett raised shares of General Electric from an “underperform” rating to a “hold” rating and boosted their price objective for the company from $7.00 to $11.00 in a research report on Friday, February 7th. Deutsche Bank boosted their price objective on shares of General Electric from to and gave the stock a “hold” rating in a research note on Thursday, January 30th. Citigroup lowered their price objective on shares of General Electric from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Barclays restated a “buy” rating and set a $13.00 price objective on shares of General Electric in a research note on Friday, March 13th. Finally, William Blair restated a “buy” rating on shares of General Electric in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.35.
Shares of GE opened at $7.56 on Thursday. The firm has a market cap of $66.08 billion, a price-to-earnings ratio of -12.19, a PEG ratio of 2.35 and a beta of 1.12. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.51 and a current ratio of 1.70. General Electric has a fifty-two week low of $5.90 and a fifty-two week high of $13.26. The firm has a 50 day moving average price of $10.38 and a 200-day moving average price of $10.50.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, January 29th. The conglomerate reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03. The firm had revenue of $26.24 billion during the quarter, compared to analyst estimates of $25.77 billion. General Electric had a negative net margin of 4.71% and a positive return on equity of 14.12%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. As a group, equities research analysts predict that General Electric will post 0.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.53%. General Electric’s dividend payout ratio is currently 6.15%.
General Electric Profile
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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