Argent Capital Management LLC raised its stake in General Electric (NYSE:GE) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 570,634 shares of the conglomerate’s stock after purchasing an additional 13,995 shares during the period. Argent Capital Management LLC’s holdings in General Electric were worth $7,766,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. HC Financial Advisors Inc. purchased a new stake in General Electric in the fourth quarter worth about $281,000. BerganKDV Wealth Management LLC bought a new position in shares of General Electric in the first quarter worth about $205,000. Partnervest Advisory Services LLC boosted its stake in shares of General Electric by 182.0% in the first quarter. Partnervest Advisory Services LLC now owns 49,590 shares of the conglomerate’s stock worth $668,000 after acquiring an additional 32,005 shares during the period. W. E. Donoghue & Co. LLC boosted its stake in shares of General Electric by 19.5% in the first quarter. W. E. Donoghue & Co. LLC now owns 1,197,883 shares of the conglomerate’s stock worth $16,147,000 after acquiring an additional 195,170 shares during the period. Finally, Boston Partners boosted its stake in shares of General Electric by 22.5% in the first quarter. Boston Partners now owns 454,855 shares of the conglomerate’s stock worth $6,131,000 after acquiring an additional 83,579 shares during the period. 53.75% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. set a $10.00 price objective on General Electric and gave the stock a “sell” rating in a research note on Wednesday. ValuEngine lowered General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Citigroup dropped their price objective on General Electric from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday. Goldman Sachs Group set a $14.00 price objective on General Electric and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Royal Bank of Canada set a $15.00 price objective on General Electric and gave the stock a “buy” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $15.89.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.06). General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The firm had revenue of $29.57 billion for the quarter, compared to the consensus estimate of $30.08 billion. During the same period in the previous year, the company posted $0.29 earnings per share. General Electric’s quarterly revenue was down 3.6% on a year-over-year basis. Research analysts predict that General Electric will post 0.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date was Friday, September 14th. General Electric’s payout ratio is presently 45.71%.
General Electric Company 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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