Grand Jean Capital Management Inc. Buys Shares of 18,400 General Electric (GE)
Grand Jean Capital Management Inc. bought a new stake in shares of General Electric (NYSE:GE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 18,400 shares of the conglomerate’s stock, valued at approximately $139,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Doyle Wealth Management boosted its holdings in General Electric by 41.3% in the third quarter. Doyle Wealth Management now owns 272,199 shares of the conglomerate’s stock worth $3,073,000 after purchasing an additional 79,513 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in General Electric by 11.8% in the third quarter. Commonwealth Bank of Australia now owns 1,556,568 shares of the conglomerate’s stock worth $17,566,000 after purchasing an additional 164,900 shares during the last quarter. Tobam boosted its holdings in General Electric by 23.4% in the third quarter. Tobam now owns 582,916 shares of the conglomerate’s stock worth $6,581,000 after purchasing an additional 110,691 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in General Electric by 95.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 103,307 shares of the conglomerate’s stock worth $1,166,000 after purchasing an additional 50,370 shares during the last quarter. Finally, Norinchukin Bank The boosted its holdings in General Electric by 9.3% in the third quarter. Norinchukin Bank The now owns 1,563,228 shares of the conglomerate’s stock worth $17,649,000 after purchasing an additional 133,187 shares during the last quarter. 57.73% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on GE shares. Argus upgraded shares of General Electric from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. William Blair restated a “buy” rating on shares of General Electric in a report on Saturday, February 2nd. Gabelli restated a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Royal Bank of Canada restated a “buy” rating and issued a $12.00 target price on shares of General Electric in a report on Wednesday, March 6th. Finally, Cowen restated a “hold” rating and issued a $8.00 target price on shares of General Electric in a report on Tuesday, February 26th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $12.33.
GE opened at $10.26 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.50 and a current ratio of 1.77. General Electric has a 1-year low of $6.66 and a 1-year high of $15.59. The company has a market capitalization of $85.70 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.24 and a beta of 0.99.
General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.05. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business had revenue of $27.29 billion for the quarter, compared to the consensus estimate of $27.31 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that General Electric will post 0.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.01 per share. The ex-dividend date was Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.39%. General Electric’s payout ratio is 6.15%.
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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