HL Financial Services LLC cut its stake in shares of General Electric (NYSE:GE) by 26.3% in the fourth quarter, Holdings Channel reports. The fund owned 3,176,551 shares of the conglomerate’s stock after selling 1,132,021 shares during the period. HL Financial Services LLC’s holdings in General Electric were worth $24,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of General Electric by 1.0% in the third quarter. Vanguard Group Inc. now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after purchasing an additional 6,167,111 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of General Electric by 1.0% in the third quarter. Vanguard Group Inc now owns 635,893,221 shares of the conglomerate’s stock valued at $7,179,235,000 after purchasing an additional 6,167,111 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of General Electric by 13.3% in the third quarter. The Manufacturers Life Insurance Company now owns 102,536,305 shares of the conglomerate’s stock valued at $1,157,635,000 after purchasing an additional 12,033,153 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of General Electric by 2.3% in the third quarter. Legal & General Group Plc now owns 40,343,148 shares of the conglomerate’s stock valued at $455,475,000 after purchasing an additional 898,000 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of General Electric by 95.6% in the third quarter. Pzena Investment Management LLC now owns 33,345,586 shares of the conglomerate’s stock valued at $376,472,000 after purchasing an additional 16,297,449 shares in the last quarter. Institutional investors and hedge funds own 57.72% of the company’s stock.

In related news, insider Russell Stokes sold 49,904 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.13% of the stock is owned by corporate insiders.

A number of research analysts recently weighed in 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. JPMorgan Chase & Co. downgraded shares of General Electric from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $6.00 to $5.00 in a research note on Monday, April 8th. Royal Bank of Canada set a $12.00 price target on shares of General Electric and gave the stock a “buy” rating in a research note on Tuesday, March 12th. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Credit Suisse Group restated a “neutral” rating and set a $11.00 price objective on shares of General Electric in a research report on Friday, March 8th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $12.39.

GE stock opened at $9.33 on Wednesday. General Electric has a 12 month low of $6.66 and a 12 month high of $15.59. The firm has a market capitalization of $81.18 billion, a P/E ratio of 14.35, a price-to-earnings-growth ratio of 3.79 and a beta of 0.99. The company has a quick ratio of 1.52, a current ratio of 1.81 and a debt-to-equity ratio of 1.85.

General Electric (NYSE:GE) last released its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The business had revenue of $33.28 billion during the quarter, compared to analysts’ expectations of $32.01 billion. On average, equities research analysts forecast that General Electric will post 0.58 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 annualized dividend and a yield of 0.43%. General Electric’s dividend payout ratio (DPR) is 6.15%.

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General Electric Company Profile

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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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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