River Road Asset Management LLC acquired a new stake in shares of General Electric (NYSE:GE) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 18,317 shares of the conglomerate’s stock, valued at approximately $139,000.
Several other hedge funds have also recently made changes to their positions in GE. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after purchasing an additional 2,500 shares during the period. Mackey Komara & Dankovich LLC bought a new stake in shares of General Electric during the 4th quarter valued at $27,000. Edge Wealth Management LLC raised its position in shares of General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 1,300 shares during the period. NuWave Investment Management LLC raised its position in shares of General Electric by 170.3% during the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock valued at $46,000 after purchasing an additional 3,790 shares during the period. Finally, Orrstown Financial Services Inc. increased its holdings in General Electric by 26.6% in the 4th quarter. Orrstown Financial Services Inc. now owns 7,139 shares of the conglomerate’s stock valued at $54,000 after acquiring an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Royal Bank of Canada set a $12.00 price target on shares of General Electric and gave the company a “buy” rating in a report on Tuesday, March 12th. Gabelli reiterated a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. ValuEngine upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Finally, Cowen reiterated a “hold” rating and issued a $8.00 price target on shares of General Electric in a report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus price target of $12.39.
General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 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 for the quarter, compared to analysts’ expectations of $32.01 billion. As a group, research analysts expect that General Electric will post 0.53 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. General Electric’s dividend 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 shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the transaction, the insider now directly owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.13% of the stock is currently owned by insiders.
About General Electric
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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