WealthTrust Axiom LLC reduced its position in shares of General Electric (NYSE:GE) by 4.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 216,161 shares of the conglomerate’s stock after selling 10,275 shares during the quarter. General Electric accounts for approximately 2.0% of WealthTrust Axiom LLC’s holdings, making the stock its 11th biggest position. WealthTrust Axiom LLC’s holdings in General Electric were worth $5,226,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in GE. Franklin Resources Inc. grew its stake in shares of General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares during the period. BlackRock Inc. grew its stake in shares of General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares during the period. Capital Research Global Investors grew its stake in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares during the period. Boston Partners grew its stake in shares of General Electric by 7,892.3% during the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after acquiring an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of General Electric by 1,011.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after acquiring an additional 13,315,605 shares during the period. Institutional investors and hedge funds own 55.62% of the company’s stock.
A number of brokerages recently issued reports on GE. Citigroup set a $28.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS Group downgraded General Electric from a “buy” rating to a “neutral” rating and cut their price objective for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Vetr downgraded General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective for the company. in a research note on Wednesday, January 10th. Royal Bank of Canada downgraded General Electric from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Deutsche Bank cut their price objective on General Electric from $18.00 to $15.00 and set a “sell” rating for the company in a research note on Tuesday, November 21st. Six analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. General Electric presently has an average rating of “Hold” and an average price target of $22.59.
General Electric (NYSE GE) opened at $16.17 on Tuesday. General Electric has a 52 week low of $15.80 and a 52 week high of $30.90. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $140,230.00, a P/E ratio of 18.80, a price-to-earnings-growth ratio of 3.01 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Shareholders of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.97%. General Electric’s payout ratio is 55.81%.
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General Electric Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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