BerganKDV Wealth Management LLC raised its stake in General Electric (NYSE:GE) by 63.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,806 shares of the conglomerate’s stock after acquiring an additional 9,601 shares during the period. BerganKDV Wealth Management LLC’s holdings in General Electric were worth $338,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GE. The Manufacturers Life Insurance Company increased its holdings in General Electric by 167.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after acquiring an additional 39,268,675 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of General Electric by 11.0% in the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after buying an additional 20,275,020 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of General Electric by 19.6% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 64,755,611 shares of the conglomerate’s stock worth $1,129,985,000 after buying an additional 10,631,247 shares during the last quarter. BlackRock Inc. increased its holdings in shares of General Electric by 1.5% in the 4th quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock worth $9,278,731,000 after buying an additional 7,675,642 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its holdings in shares of General Electric by 88.5% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,941,772 shares of the conglomerate’s stock worth $160,975,000 after buying an additional 5,607,494 shares during the last quarter. Institutional investors own 53.74% of the company’s stock.
A number of research firms have recently weighed in on GE. UBS Group reduced their target price on shares of General Electric from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 5th. MED upgraded shares of General Electric from a “sell” rating to a “hold” rating and set a $15.00 target price on the stock in a report on Thursday, July 12th. Goldman Sachs Group restated a “neutral” rating and issued a $14.00 target price on shares of General Electric in a report on Wednesday, June 27th. Cowen restated a “hold” rating and issued a $14.50 target price on shares of General Electric in a report on Friday, July 20th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a report on Tuesday, July 24th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.99.
In other news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The shares were bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.12% of the company’s stock.
Shares of NYSE:GE opened at $12.68 on Friday. The stock has a market cap of $109.49 billion, a P/E ratio of 12.08, a PEG ratio of 2.39 and a beta of 0.96. General Electric has a 12 month low of $11.94 and a 12 month high of $25.21. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. equities analysts forecast that General Electric will post 0.96 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 3.79%. General Electric’s payout ratio is 45.71%.
General Electric Company Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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