General Electric Company (GE) Position Boosted by Sanders Capital LLC
Sanders Capital LLC boosted its position in shares of General Electric Company (NYSE:GE) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,850,518 shares of the conglomerate’s stock after buying an additional 73,200 shares during the period. General Electric comprises approximately 1.0% of Sanders Capital LLC’s investment portfolio, making the stock its 27th largest position. Sanders Capital LLC’s holdings in General Electric were worth $149,459,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Fiera Capital Corp increased its position in shares of General Electric by 34.4% in the fourth quarter. Fiera Capital Corp now owns 218,062 shares of the conglomerate’s stock worth $6,891,000 after buying an additional 55,868 shares during the last quarter. Zions Bancorporation increased its stake in General Electric by 1.8% in the fourth quarter. Zions Bancorporation now owns 75,250 shares of the conglomerate’s stock valued at $2,378,000 after buying an additional 1,354 shares in the last quarter. Intellectus Partners LLC acquired a new stake in General Electric during the fourth quarter valued at approximately $1,070,000. Moloney Securities Asset Management LLC acquired a new stake in General Electric during the fourth quarter valued at approximately $3,891,000. Finally, Glassman Wealth Services increased its stake in General Electric by 9.6% in the fourth quarter. Glassman Wealth Services now owns 48,699 shares of the conglomerate’s stock valued at $1,539,000 after buying an additional 4,250 shares in the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.
General Electric Company (NYSE GE) traded down 0.8943% during trading on Tuesday, hitting $25.1332. The company’s stock had a trading volume of 6,741,180 shares. The firm has a market cap of $217.60 billion, a P/E ratio of 30.6129 and a beta of 1.21. General Electric Company has a 12 month low of $25.10 and a 12 month high of $32.38. The firm has a 50 day moving average of $26.22 and a 200 day moving average of $28.46.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period in the previous year, the company posted $0.51 earnings per share. The firm’s revenue was down 11.8% on a year-over-year basis. Equities research analysts predict that General Electric Company will post $1.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s payout ratio is 118.52%.
Several research firms recently issued reports on GE. Deutsche Bank AG set a $24.00 price objective on shares of General Electric and gave the stock a “sell” rating in a report on Saturday, May 20th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $30.48 target price for the company. in a research note on Tuesday, July 4th. Morgan Stanley reiterated an “equal weight” rating and set a $26.00 target price (down from $27.00) on shares of General Electric in a research note on Monday, July 24th. Stifel Nicolaus increased their price objective on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada dropped their price objective on shares of General Electric from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Monday, April 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $30.08.
In other news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the business’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares in the company, valued at $4,507,141.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Leonard Flannery purchased 103,983 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now directly owns 509,430 shares of the company’s stock, valued at $13,021,030.80. The disclosure for this purchase can be found here. Insiders have acquired 137,253 shares of company stock valued at $3,515,064 in the last quarter. 0.36% of the stock is owned by company insiders.
General Electric Company Profile
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