Bard Financial Services Inc. Acquires New Stake in General Electric (NYSE:GE)


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Bard Financial Services Inc. acquired a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 277,995 shares of the conglomerate’s stock, valued at approximately $3,002,000.

Other hedge funds also recently bought and sold shares of the company. State of Michigan Retirement System increased its holdings in shares of General Electric by 1.1% in the 4th quarter. State of Michigan Retirement System now owns 2,257,292 shares of the conglomerate’s stock worth $24,379,000 after purchasing an additional 23,700 shares in the last quarter. National Pension Service increased its holdings in shares of General Electric by 0.8% in the 4th quarter. National Pension Service now owns 10,533,091 shares of the conglomerate’s stock worth $113,757,000 after purchasing an additional 85,935 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of General Electric by 43.9% in the 4th quarter. Park Avenue Securities LLC now owns 29,618 shares of the conglomerate’s stock worth $320,000 after purchasing an additional 9,040 shares in the last quarter. Sand Hill Global Advisors LLC grew its holdings in shares of General Electric by 3.0% in the fourth quarter. Sand Hill Global Advisors LLC now owns 305,393 shares of the conglomerate’s stock worth $3,298,000 after acquiring an additional 8,812 shares during the period. Finally, Claraphi Advisory Network LLC grew its holdings in shares of General Electric by 290.0% in the fourth quarter. Claraphi Advisory Network LLC now owns 110,839 shares of the conglomerate’s stock worth $1,197,000 after acquiring an additional 82,422 shares during the period. 60.09% of the stock is owned by institutional investors.

In related news, Director Paula Rosput Reynolds acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 12th. The stock was acquired at an average price of $12.50 per share, with a total value of $62,500.00. Following the acquisition, the director now directly owns 26,500 shares in the company, valued at approximately $331,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.

Shares of GE opened at $13.39 on Thursday. General Electric has a 12 month low of $5.48 and a 12 month high of $14.41. The stock has a fifty day moving average price of $12.96 and a 200-day moving average price of $10.38. The company has a current ratio of 2.31, a quick ratio of 2.04 and a debt-to-equity ratio of 2.10. The firm has a market cap of $117.63 billion, a PE ratio of 37.19, a P/E/G ratio of 8.61 and a beta of 1.06.

General Electric (NYSE:GE) last posted its quarterly earnings results on Monday, January 25th. The conglomerate reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $21.93 billion for the quarter, compared to analysts’ expectations of $21.62 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. As a group, research analysts forecast that General Electric will post 0.04 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 26th. Stockholders of record on Monday, March 8th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

Several analysts recently commented on GE shares. DZ Bank raised General Electric from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Wednesday, December 16th. Royal Bank of Canada boosted their price objective on General Electric from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, March 11th. The Goldman Sachs Group set a $15.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Wednesday, March 17th. Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating and set a $14.00 target price on the stock in a research note on Wednesday, March 31st. Finally, Bank of America reaffirmed a “buy” rating and set a $15.00 target price on shares of General Electric in a research note on Monday, March 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $12.60.

About General Electric

General Electric Company operates as a high-tech industrial company worldwide. The company's Power segment offers heavy-duty and aeroderivative gas turbines for utilities, independent power producers, and industrial applications; maintenance, service, and upgrade solutions to plant assets and their operational lifecycle; steam power technology for fossil and nuclear applications, including boilers, generators, steam turbines, and air quality control systems; and advanced reactor technologies solutions comprising reactors, fuels, and support services for boiling water reactors.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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