Pensionfund Sabic Takes Position in General Electric Company (GE)
Pensionfund Sabic bought a new stake in shares of General Electric Company (NYSE:GE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 178,000 shares of the conglomerate’s stock, valued at approximately $4,304,000. General Electric makes up about 1.3% of Pensionfund Sabic’s investment portfolio, making the stock its 5th biggest position. Pensionfund Sabic owned approximately 0.26% of General Electric as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. MPS Loria Financial Planners LLC purchased a new stake in General Electric in the 2nd quarter worth $113,000. Ffcm LLC purchased a new stake in General Electric in the 2nd quarter worth $114,000. Corbenic Partners LLC increased its holdings in General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after acquiring an additional 725 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in General Electric in the 2nd quarter worth $209,000. Finally, Oakmont Partners LLC increased its holdings in General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock worth $217,000 after acquiring an additional 278 shares in the last quarter. 55.61% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a report on Tuesday, September 19th. Citigroup set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. UBS cut shares of General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $24.00 in a research note on Monday, October 23rd. Royal Bank of Canada cut shares of General Electric from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Deutsche Bank lowered their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. General Electric has a consensus rating of “Hold” and an average price target of $23.39.
Shares of General Electric Company (NYSE GE) opened at $17.76 on Tuesday. General Electric Company has a one year low of $17.46 and a one year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14. The stock has a market cap of $154,493.20, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.06.
General Electric (NYSE:GE) last announced its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. sell-side analysts forecast that General Electric Company will post 1.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.70%. General Electric’s payout ratio is 120.00%.
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About General Electric
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