Resonant Capital Advisors LLC bought a new position in General Electric (NYSE:GE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,424 shares of the conglomerate’s stock, valued at approximately $127,000.
A number of other institutional investors have also recently modified their holdings of the stock. Man Group plc raised its holdings in General Electric by 277.4% in the fourth quarter. Man Group plc now owns 735,357 shares of the conglomerate’s stock valued at $8,207,000 after buying an additional 540,528 shares during the period. German American Bancorp Inc. grew its stake in General Electric by 0.7% during the fourth quarter. German American Bancorp Inc. now owns 155,759 shares of the conglomerate’s stock worth $1,738,000 after buying an additional 1,134 shares during the period. Mark Sheptoff Financial Planning LLC grew its stake in General Electric by 4,444.0% during the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 113,600 shares of the conglomerate’s stock worth $1,268,000 after buying an additional 111,100 shares during the period. Captrust Financial Advisors increased its position in shares of General Electric by 72.9% in the fourth quarter. Captrust Financial Advisors now owns 289,726 shares of the conglomerate’s stock worth $3,459,000 after acquiring an additional 122,186 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of General Electric by 94.5% in the fourth quarter. Cubist Systematic Strategies LLC now owns 1,696,011 shares of the conglomerate’s stock worth $18,927,000 after acquiring an additional 823,923 shares in the last quarter. Hedge funds and other institutional investors own 62.53% of the company’s stock.
Several equities analysts recently weighed in on GE shares. JPMorgan Chase & Co. upgraded shares of General Electric from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $5.00 to $8.00 in a report on Monday, March 2nd. Bank of America reiterated a “buy” rating and issued a $16.00 price target on shares of General Electric in a report on Thursday, March 5th. Cowen reiterated a “hold” rating and issued a $8.00 price target on shares of General Electric in a report on Wednesday, January 29th. Citigroup cut their price objective on General Electric from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, Morgan Stanley reduced their price objective on General Electric from $14.00 to $9.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $11.35.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, January 29th. The conglomerate reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.77 billion. General Electric had a negative net margin of 4.71% and a positive return on equity of 14.12%. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.17 EPS. As a group, analysts predict that General Electric will post 0.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 27th. Investors of record on Monday, March 9th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Friday, March 6th. General Electric’s dividend payout ratio (DPR) is 6.15%.
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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