Garner Asset Management Corp lowered its stake in General Electric (NYSE:GE) by 12.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,780 shares of the conglomerate’s stock after selling 1,738 shares during the quarter. Garner Asset Management Corp’s holdings in General Electric were worth $89,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Ellis Investment Partners LLC purchased a new position in General Electric during the 4th quarter worth $132,000. Royal London Asset Management Ltd. lifted its holdings in General Electric by 5.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 3,619,662 shares of the conglomerate’s stock valued at $27,184,000 after purchasing an additional 173,600 shares during the last quarter. Hikari Power Ltd lifted its holdings in General Electric by 274.1% during the fourth quarter. Hikari Power Ltd now owns 1,951,080 shares of the conglomerate’s stock valued at $14,770,000 after purchasing an additional 1,429,480 shares during the last quarter. GWM Advisors LLC lifted its holdings in General Electric by 68.5% during the fourth quarter. GWM Advisors LLC now owns 79,767 shares of the conglomerate’s stock valued at $604,000 after purchasing an additional 32,433 shares during the last quarter. Finally, Gilman Hill Asset Management LLC increased its position in shares of General Electric by 7.2% during the fourth quarter. Gilman Hill Asset Management LLC now owns 19,444 shares of the conglomerate’s stock valued at $147,000 after buying an additional 1,300 shares during the period. Institutional investors and hedge funds own 57.72% of the company’s stock.
GE has been the topic of several analyst reports. Credit Suisse Group set a $10.00 price target on General Electric and gave the company a “neutral” rating in a research report on Thursday, January 3rd. Vertical Research upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $10.16 price objective (up from $1.06) on shares of General Electric in a research report on Friday, February 1st. Barclays cut their target price on General Electric from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, December 17th. Finally, Argus raised General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.39.
General Electric (NYSE:GE) last posted its quarterly earnings data on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. The firm had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. On average, analysts predict that General Electric will post 0.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. General Electric’s payout ratio is presently 6.15%.
In related news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares in the company, valued at approximately $2,641,240.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is currently owned by company insiders.
General Electric Profile
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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