Portfolio Solutions LLC Acquires New Stake in General Electric (GE)
Portfolio Solutions LLC acquired a new position in shares of General Electric (NYSE:GE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,961 shares of the conglomerate’s stock, valued at approximately $133,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Greenline Partners LLC lifted its holdings in shares of General Electric by 20.7% in the third quarter. Greenline Partners LLC now owns 131,844 shares of the conglomerate’s stock worth $1,503,000 after acquiring an additional 22,584 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of General Electric by 2.5% in the second quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock valued at $38,094,000 after buying an additional 67,257 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of General Electric by 2.2% in the second quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock valued at $15,349,000 after buying an additional 24,812 shares during the period. Pure Financial Advisors Inc. acquired a new position in shares of General Electric in the second quarter valued at approximately $207,000. Finally, Tributary Capital Management LLC increased its stake in shares of General Electric by 5,184.5% in the second quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the period. 54.48% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on GE. Gordon Haskett began coverage on General Electric in a research note on Friday, October 12th. They issued a “sell” rating for the company. Royal Bank of Canada lowered their price objective on General Electric to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 28th. Oppenheimer reaffirmed a “neutral” rating on shares of General Electric in a research note on Tuesday, October 2nd. Citigroup set a $21.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 1st. Finally, Goldman Sachs Group set a $14.00 price objective on General Electric and gave the company a “neutral” rating in a research note on Tuesday, October 30th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and an average target price of $13.86.
NYSE:GE opened at $7.01 on Friday. The company has a market cap of $63.82 billion, a price-to-earnings ratio of 9.67, a PEG ratio of 2.09 and a beta of 0.88. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.36. General Electric has a fifty-two week low of $6.99 and a fifty-two week high of $19.39.
General Electric (NYSE:GE) last released its earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). The firm had revenue of $29.57 billion for the quarter, compared to analyst estimates of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 EPS. On average, sell-side analysts expect that General Electric will post 0.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Thursday, December 20th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.57%. General Electric’s dividend payout ratio is presently 45.71%.
General Electric Profile
General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.
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