IFM Investors Pty Ltd raised its position in General Electric (NYSE:GE) by 17.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 842,992 shares of the conglomerate’s stock after purchasing an additional 122,560 shares during the quarter. IFM Investors Pty Ltd’s holdings in General Electric were worth $9,104,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC purchased a new stake in General Electric in the fourth quarter valued at $145,000. Investment House LLC purchased a new stake in General Electric in the 4th quarter valued at about $2,879,000. Redpoint Investment Management Pty Ltd raised its holdings in General Electric by 10.4% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 226,766 shares of the conglomerate’s stock valued at $2,449,000 after buying an additional 21,351 shares during the period. Global Retirement Partners LLC lifted its position in General Electric by 21.5% in the fourth quarter. Global Retirement Partners LLC now owns 229,249 shares of the conglomerate’s stock valued at $2,476,000 after buying an additional 40,620 shares during the last quarter. Finally, Sowell Financial Services LLC boosted its stake in General Electric by 12.8% during the fourth quarter. Sowell Financial Services LLC now owns 49,567 shares of the conglomerate’s stock worth $535,000 after buying an additional 5,611 shares during the period. 57.91% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of General Electric from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, December 4th. Oppenheimer upgraded General Electric from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Tuesday, November 24th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $6.81 to $9.00 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Zacks Investment Research upgraded General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a report on Wednesday, October 14th. Finally, Barclays increased their target price on General Electric from $9.00 to $11.00 in a research note on Friday, November 13th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.00.
General Electric (NYSE:GE) last released its quarterly earnings data on Wednesday, October 28th. The conglomerate reported $0.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.10. The business had revenue of $19.42 billion during the quarter, compared to analysts’ expectations of $19.15 billion. General Electric had a net margin of 4.52% and a return on equity of 5.37%. During the same period in the previous year, the company earned $0.15 EPS. On average, equities analysts predict that General Electric will post 0.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 25th. Stockholders of record on Monday, December 21st will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, December 18th. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. General Electric’s dividend payout ratio is currently 6.15%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company in the United States, Europe, Asia, the Americas, the Middle East, and Africa. It operates through Power, Renewable Energy, Aviation, Healthcare, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and power generation services.
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