Clarius Group LLC lessened its holdings in shares of General Electric (NYSE:GE) by 42.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,702 shares of the conglomerate’s stock after selling 13,178 shares during the period. Clarius Group LLC’s holdings in General Electric were worth $428,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its stake in General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares during the last quarter. BlackRock Inc. raised its stake in General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares during the last quarter. Capital Research Global Investors raised its stake in General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares during the last quarter. Boston Partners raised its stake in General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after acquiring an additional 14,050,581 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in General Electric by 1,011.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after acquiring an additional 13,315,605 shares during the last quarter. Hedge funds and other institutional investors own 55.44% of the company’s stock.
In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Francisco Dsouza bought 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have bought a total of 124,370 shares of company stock worth $2,245,570 over the last 90 days. Insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The company had revenue of $31.40 billion for the quarter, compared to analyst estimates of $33.93 billion. During the same period in the prior year, the business posted $0.46 earnings per share. General Electric’s revenue for the quarter was down 5.1% on a year-over-year basis. equities analysts anticipate that General Electric will post 0.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently 44.44%.
A number of brokerages recently issued reports on GE. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price for the company. in a research note on Wednesday, January 10th. TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Morgan Stanley lowered General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 target price for the company. in a research note on Monday, October 23rd. Stifel Nicolaus lowered General Electric from a “buy” rating to a “hold” rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Tuesday, October 24th. Finally, Goldman Sachs Group set a $23.00 price target on General Electric and gave the stock a “hold” rating in a research report on Tuesday, October 17th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. General Electric currently has a consensus rating of “Hold” and an average target price of $21.31.
General Electric Profile
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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