Dodge & Cox Trims Position in General Electric (GE)

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Dodge & Cox lessened its holdings in General Electric (NYSE:GE) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 685,824 shares of the conglomerate’s stock after selling 10,412 shares during the period. Dodge & Cox’s holdings in General Electric were worth $7,743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GE. Psagot Investment House Ltd. boosted its stake in General Electric by 2,862.2% during the third quarter. Psagot Investment House Ltd. now owns 10,190 shares of the conglomerate’s stock worth $115,000 after buying an additional 9,846 shares during the period. Beech Hill Advisors Inc. purchased a new position in General Electric during the third quarter worth $119,000. LVW Advisors LLC purchased a new position in General Electric during the third quarter worth $127,000. Dynasty Wealth Management LLC purchased a new position in General Electric during the third quarter worth $127,000. Finally, Barry Investment Advisors LLC purchased a new position in General Electric during the third quarter worth $128,000. Institutional investors own 54.40% of the company’s stock.

GE has been the subject of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $10.00 price objective on shares of General Electric in a research note on Thursday, October 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $15.00 price objective on shares of General Electric in a research note on Tuesday, October 30th. Goldman Sachs Group set a $14.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research note on Tuesday, October 30th. Citigroup dropped their price objective on shares of General Electric from $19.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Finally, ValuEngine lowered shares of General Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.04.

In related news, Director Francisco Dsouza bought 60,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was purchased at an average cost of $8.32 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now owns 151,500 shares of the company’s stock, valued at $1,260,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.

Shares of GE opened at $9.81 on Monday. The firm has a market cap of $85.18 billion, a PE ratio of 15.09, a P/E/G ratio of 3.06 and a beta of 0.99. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59. The company has a quick ratio of 1.36, a current ratio of 1.66 and a debt-to-equity ratio of 2.14.

General Electric (NYSE:GE) last issued its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The company had revenue of $33.28 billion for the quarter, compared to analysts’ expectations of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.84%. Analysts predict that General Electric will post 0.64 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 25th. Stockholders of record on Thursday, December 20th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Wednesday, December 19th. General Electric’s dividend payout ratio is currently 6.15%.

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

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