Bedell Frazier Investment Counseling LLC Has $6.76 Million Position in General Electric (NYSE:GE)

Bedell Frazier Investment Counseling LLC boosted its stake in shares of General Electric (NYSE:GE) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,514 shares of the conglomerate’s stock after buying an additional 3,291 shares during the quarter. General Electric makes up 3.1% of Bedell Frazier Investment Counseling LLC’s portfolio, making the stock its 15th largest position. Bedell Frazier Investment Counseling LLC’s holdings in General Electric were worth $6,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the period. BlackRock Inc. increased 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 purchasing an additional 19,422,516 shares during the period. Capital World Investors increased its position in General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Capital Research Global Investors increased 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 purchasing an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. increased 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 purchasing an additional 23,764,129 shares during the period. Institutional investors own 54.98% of the company’s stock.

Shares of General Electric (NYSE GE) opened at $14.90 on Thursday. The company has a market cap of $129,210.00, a P/E ratio of 13.80, a P/E/G ratio of 2.78 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53. General Electric has a 12 month low of $14.23 and a 12 month high of $30.59.

General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. analysts anticipate that General Electric will post 0.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Friday, February 23rd. General Electric’s dividend payout ratio (DPR) is presently 44.44%.

In other General Electric news, insider Alexander Dimitrief acquired 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Francisco Dsouza acquired 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders purchased a total of 58,870 shares of company stock valued at $1,049,050 over the last quarter. 0.36% of the stock is owned by company insiders.

A number of research analysts have commented on the stock. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 target price on the stock. in a research report on Wednesday, January 10th. TheStreet downgraded shares of General Electric from a “c” rating to a “d+” rating in a research report on Wednesday, January 24th. Barclays assumed coverage on shares of General Electric in a research report on Thursday. They set an “equal weight” rating and a $16.00 target price on the stock. Stifel Nicolaus downgraded shares of General Electric from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $22.00 in a research report on Tuesday, October 24th. Finally, Morgan Stanley downgraded shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price objective on the stock. in a research report on Monday, October 23rd. Five equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $19.98.

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About General Electric

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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

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