Private Advisor Group LLC boosted its position in General Electric (NYSE:GE) by 4.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 376,140 shares of the conglomerate’s stock after purchasing an additional 16,943 shares during the quarter. Private Advisor Group LLC’s holdings in General Electric were worth $5,036,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. HC Financial Advisors Inc. bought a new position in General Electric during the fourth quarter valued at about $281,000. Boston Partners raised its holdings in General Electric by 22.5% during the first quarter. Boston Partners now owns 454,855 shares of the conglomerate’s stock valued at $6,131,000 after buying an additional 83,579 shares in the last quarter. DDD Partners LLC raised its holdings in General Electric by 5.2% during the first quarter. DDD Partners LLC now owns 246,531 shares of the conglomerate’s stock valued at $3,323,000 after buying an additional 12,151 shares in the last quarter. Central Securities Corp raised its holdings in General Electric by 62.9% during the first quarter. Central Securities Corp now owns 500,000 shares of the conglomerate’s stock valued at $6,740,000 after buying an additional 193,000 shares in the last quarter. Finally, DT Investment Partners LLC raised its holdings in General Electric by 36.2% during the first quarter. DT Investment Partners LLC now owns 188,963 shares of the conglomerate’s stock valued at $2,547,000 after buying an additional 50,242 shares in the last quarter. Institutional investors and hedge funds own 53.75% of the company’s stock.
General Electric stock opened at $10.10 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81. The stock has a market capitalization of $98.11 billion, a PE ratio of 9.62, a price-to-earnings-growth ratio of 2.19 and a beta of 0.96. General Electric has a 52 week low of $9.80 and a 52 week high of $20.75.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, September 14th. This represents a $0.48 annualized dividend and a yield of 4.75%. General Electric’s dividend payout ratio is 45.71%.
Several equities analysts have weighed in on GE shares. UBS Group lowered General Electric to an “add” rating and set a $23.00 target price on the stock. in a report on Tuesday, October 2nd. Gabelli restated a “buy” rating on shares of General Electric in a report on Wednesday, July 18th. Morningstar set a $15.70 target price on General Electric and gave the company a “buy” rating in a report on Monday, August 13th. Citigroup set a $21.00 target price on General Electric and gave the company a “buy” rating in a report on Monday, October 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $15.00 target price on shares of General Electric in a report on Tuesday. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $15.50.
General Electric 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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