Crestwood Advisors Group LLC decreased its holdings in General Electric (NYSE: GE – Get Rating) by 11.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,336 shares of the conglomerate’s stock after selling 857 shares during the quarter. Crestwood Advisors Group LLC’s holdings in General Electric were worth $ 580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of General Electric by 39.4% in the fourth quarter. Capital Research Global Investors now owns 53,968,728 shares of the conglomerate’s stock valued at $ 5,098,427,000 after purchasing an additional 15,251,142 shares during the period. State Street Corp boosted its stake in shares of General Electric by 0.6% in the fourth quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $ 4,112,580,000 after purchasing an additional 255,566 shares during the period. Morgan Stanley boosted its stake in shares of General Electric by 5.7% in the second quarter. Morgan Stanley now owns 41,344,433 shares of the conglomerate’s stock valued at $ 556,497,000 after purchasing an additional 2,238,808 shares during the period. Geode Capital Management LLC boosted its stake in shares of General Electric by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 17,674,014 shares of the conglomerate’s stock valued at $ 1,664,776,000 after purchasing an additional 513,385 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in shares of General Electric by 8.4% in the fourth quarter. Pzena Investment Management LLC now owns 11,033,492 shares of the conglomerate’s stock valued at $ 1,042,334,000 after purchasing an additional 852,849 shares during the period. 67.37% of the stock is owned by institutional investors and hedge funds.
In other news, Director Paula Rosput Reynolds acquired 1,200 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were purchased at an average cost of $ 77.65 per share, for a total transaction of $ 93,180.00. Following the transaction, the director now directly owns 5,563 shares in the company, valued at approximately $ 431,966.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Electric Co General sold 72,025,826 shares of General Electric stock in a transaction on Friday, May 6th. The shares were sold at an average price of $ 34.45, for a total transaction of $ 2,481,289,705.70. Following the completion of the transaction, the insider now owns 3,931,363 shares in the company, valued at $ 135,435,455.35. The disclosure for this sale can be found here. Insiders bought a total of 69,801 shares of company stock worth $ 5,207,705 over the last ninety days. Corporate insiders own 0.70% of the company stock.
GE stock opened at $ 65.75 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.88. General Electric has a twelve month low of $ 64.54 and a twelve month high of $ 116.17. The company 50 day moving average is $ 77.57 and its two-hundred day moving average is $ 88.93.
General Electric (NYSE: GE – Get Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $ 0.24 EPS for the quarter, beating analysts’ consensus estimates of $ 0.20 by $ 0.04. The business had revenue of $ 17.04 billion for the quarter, compared to analysts’ expectations of $ 16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The company quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $ 0.24 EPS. On average, equities research analysts expect that General Electric will post 2.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be issued a $ 0.08 dividend. The ex-dividend date is Monday, June 27th. This represents a $ 0.32 dividend on an annualized basis and a dividend yield of 0.49%. General Electric’s payout ratio is -6.99%.
GE has been the subject of several recent research reports. Credit Suisse Group lowered their price objective on shares of General Electric from $ 113.00 to $ 102.00 in a research note on Wednesday, April 27th. Bank of America reduced their target price on shares of General Electric from $ 132.00 to $ 120.00 in a report on Wednesday, April 27th. Barclays reduced their target price on shares of General Electric from $ 100.00 to $ 96.00 and set an “overweight” rating on the stock in a report on Tuesday, May 24th. Morgan Stanley reduced their target price on shares of General Electric from $ 112.00 to $ 100.00 and set an “overweight” rating on the stock in a report on Tuesday, May 31st. Finally, Royal Bank of Canada raised their target price on shares of General Electric from $ 113.00 to $ 118.00 and gave the company an “outperform” rating in a report on Friday, March 11th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, General Electric presently has a consensus rating of “Moderate Buy” and a consensus price target of $ 116.36.
General Electric Company Profile: (Get Rating)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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