Raymond James Financial Services Advisors Inc. cut its stake in shares of General Electric (NYSE:GE – Get Rating) by 5.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 309,013 shares of the conglomerate’s stock after selling 19,179 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in General Electric were worth $29,194,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Morgan Stanley lifted its stake in shares of General Electric by 5.7% in the 2nd quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $556,497,000 after purchasing an additional 2,238,808 shares during the period. National Pension Service bought a new stake in General Electric in the third quarter worth approximately $149,257,000. Pzena Investment Management LLC lifted its stake in General Electric by 8.4% in the fourth quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock valued at $1,042,334,000 after buying an additional 852,849 shares during the period. TD Asset Management Inc. bought a new position in shares of General Electric during the 3rd quarter worth approximately $77,904,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of General Electric during the 4th quarter worth approximately $66,937,000. Hedge funds and other institutional investors own 70.28% of the company’s stock.
Several brokerages recently issued reports on GE. The Goldman Sachs Group reissued a “buy” rating and set a $124.00 target price on shares of General Electric in a research note on Wednesday, January 26th. Barclays decreased their target price on General Electric from $115.00 to $100.00 in a research report on Friday. Royal Bank of Canada increased their price target on General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, March 11th. Credit Suisse Group decreased their price objective on General Electric from $113.00 to $102.00 in a report on Wednesday. Finally, Zacks Investment Research upgraded General Electric from a “sell” rating to a “hold” rating and set a $94.00 target price on the stock in a report on Monday, March 7th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, General Electric currently has a consensus rating of “Buy” and a consensus price target of $117.69.
General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.05. The business had revenue of $17.04 billion for the quarter, compared to analyst estimates of $16.92 billion. General Electric had a positive return on equity of 6.41% and a negative net margin of 6.43%. General Electric’s quarterly revenue was down .2% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Equities research analysts predict that General Electric will post 3 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Tuesday, March 8th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, March 7th. This represents a $0.32 annualized dividend and a yield of 0.43%. General Electric’s payout ratio is currently -6.99%.
General Electric Company Profile (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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