Vicus Capital Increases Stake in General Electric (GE)
Vicus Capital increased its holdings in General Electric (NYSE:GE) by 35.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,828 shares of the conglomerate’s stock after purchasing an additional 35,220 shares during the period. Vicus Capital’s holdings in General Electric were worth $3,260,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in GE. Franklin Resources Inc. boosted its position in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after buying an additional 23,764,129 shares during the period. BlackRock Inc. boosted its position in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after buying an additional 19,422,516 shares during the period. Capital Research Global Investors boosted its position in General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after buying an additional 14,316,281 shares during the period. Boston Partners boosted its position in General Electric by 7,892.3% during the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after buying an additional 14,050,581 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in General Electric by 1,011.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after buying an additional 13,315,605 shares during the period. 55.63% of the stock is owned by institutional investors.
General Electric (GE) opened at $18.28 on Tuesday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a 1-year low of $17.25 and a 1-year high of $31.77. The company has a market cap of $158,530.00, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.05 and a beta of 1.07.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. sell-side analysts predict that General Electric will post 1.07 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a dividend yield of 2.63%. General Electric’s payout ratio is 55.81%.
Several equities research analysts have weighed in on the stock. Vetr cut shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 price target for the company. in a research report on Monday, September 25th. Cowen reissued a “hold” rating and set a $19.00 price target on shares of General Electric in a research report on Wednesday, November 8th. Deutsche Bank set a $21.00 price target on shares of General Electric and gave the company a “sell” rating in a research report on Monday, October 23rd. Tigress Financial reissued a “hold” rating on shares of General Electric in a research report on Thursday, December 28th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating on shares of General Electric in a research report on Thursday, September 21st. Six research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $23.33.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John Leonard Flannery purchased 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the purchase, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by company insiders.
ILLEGAL ACTIVITY WARNING: This report was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.watchlistnews.com/vicus-capital-increases-stake-in-general-electric-ge/1799363.html.
General Electric Company Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with Analyst Ratings Network's FREE daily email newsletter.