Gladstone Capital Management LLP Sells 159,929 Shares of General Electric (NYSE:GE)

Gladstone Capital Management LLP trimmed its position in General Electric (NYSE:GE) by 26.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 445,442 shares of the conglomerate’s stock after selling 159,929 shares during the period. General Electric accounts for about 6.2% of Gladstone Capital Management LLP’s investment portfolio, making the stock its 8th biggest holding. Gladstone Capital Management LLP’s holdings in General Electric were worth $74,295,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of General Electric by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate’s stock valued at $14,980,297,000 after acquiring an additional 410,172 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate’s stock worth $3,846,587,000 after purchasing an additional 529,457 shares during the period. Norges Bank bought a new position in shares of General Electric in the 4th quarter worth about $2,375,439,000. Jennison Associates LLC boosted its holdings in shares of General Electric by 1.4% in the 4th quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate’s stock valued at $1,314,080,000 after buying an additional 106,891 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in General Electric by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate’s stock worth $1,128,571,000 after acquiring an additional 115,257 shares during the period. 74.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GE. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of General Electric in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on General Electric from $235.00 to $228.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Citigroup raised their target price on General Electric from $216.00 to $235.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Bank of America increased their price objective on shares of General Electric from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, UBS Group boosted their target price on shares of General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.73.

General Electric Stock Down 11.1 %

GE opened at $166.76 on Friday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.81 and a current ratio of 1.09. The company has a market capitalization of $178.98 billion, a PE ratio of 27.84, a P/E/G ratio of 2.59 and a beta of 1.04. The stock’s fifty day moving average is $201.56 and its 200-day moving average is $187.02. General Electric has a one year low of $146.78 and a one year high of $214.21.

General Electric (NYSE:GE) last issued its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. On average, equities analysts predict that General Electric will post 5.4 EPS for the current fiscal year.

General Electric Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Monday, March 10th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s dividend payout ratio is currently 24.04%.

General Electric Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.