Pictet Asset Management Ltd. increased its stake in General Electric Company (NYSE:GE) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,023,829 shares of the conglomerate’s stock after buying an additional 32,899 shares during the period. Pictet Asset Management Ltd. owned 0.06% of General Electric worth $149,710,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Shelton Capital Management boosted its position in shares of General Electric by 53.2% in the fourth quarter. Shelton Capital Management now owns 202,455 shares of the conglomerate’s stock valued at $6,398,000 after buying an additional 70,281 shares during the period. Lyell Wealth Management LP purchased a new position in shares of General Electric during the fourth quarter valued at about $2,892,000. Rudman Errol M purchased a new position in shares of General Electric during the fourth quarter valued at about $3,920,000. First Allied Advisory Services Inc. boosted its position in shares of General Electric by 11.5% in the fourth quarter. First Allied Advisory Services Inc. now owns 380,323 shares of the conglomerate’s stock valued at $12,018,000 after buying an additional 39,378 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in shares of General Electric during the fourth quarter valued at about $845,000. 54.31% of the stock is owned by institutional investors.
General Electric Company (GE) opened at 24.55 on Friday. General Electric Company has a 12 month low of $24.44 and a 12 month high of $32.38. The stock has a market capitalization of $212.55 billion, a price-to-earnings ratio of 29.90 and a beta of 1.21. The company has a 50 day moving average of $25.95 and a 200 day moving average of $28.34.
General Electric (NYSE:GE) last posted its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. During the same quarter in the previous year, the firm earned $0.51 EPS. The firm’s revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that General Electric Company will post $1.57 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.91%. General Electric’s dividend payout ratio is 118.52%.
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A number of brokerages have recently commented on GE. Cowen and Company restated a “hold” rating and set a $24.00 target price on shares of General Electric in a research report on Monday, August 7th. UBS AG reiterated a “buy” rating and issued a $31.00 price target (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Stifel Nicolaus dropped their price target on shares of General Electric from $33.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, July 25th. Citigroup Inc. reiterated a “buy” rating and issued a $31.00 price target (down from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price target (down from $27.00) on shares of General Electric in a research report on Monday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and a consensus price target of $30.08.
In other news, CEO John Leonard Flannery acquired 103,983 shares of General Electric stock in a transaction on Tuesday, August 8th. The shares were purchased at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the acquisition, the chief executive officer now owns 509,430 shares in the company, valued at $13,021,030.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alexander Dimitrief acquired 1,845 shares of General Electric stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the acquisition, the insider now owns 65,597 shares in the company, valued at approximately $1,675,347.38. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 133,253 shares of company stock worth $3,404,264. Corporate insiders own 0.36% of the company’s stock.
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