3,457 Shares in General Electric (NYSE:GE) Acquired by Principal Securities Inc.

Principal Securities Inc. acquired a new stake in General Electric (NYSE:GEFree Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,457 shares of the conglomerate’s stock, valued at approximately $441,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Halpern Financial Inc. raised its holdings in General Electric by 968.4% during the fourth quarter. Halpern Financial Inc. now owns 203 shares of the conglomerate’s stock worth $25,000 after purchasing an additional 184 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in General Electric in the fourth quarter valued at $27,000. CGC Financial Services LLC boosted its stake in General Electric by 90.2% in the fourth quarter. CGC Financial Services LLC now owns 232 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 110 shares in the last quarter. Capital Analysts LLC grew its holdings in shares of General Electric by 55.8% during the fourth quarter. Capital Analysts LLC now owns 243 shares of the conglomerate’s stock worth $31,000 after purchasing an additional 87 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of General Electric during the fourth quarter worth about $32,000. 74.77% of the stock is currently owned by institutional investors and hedge funds.

General Electric Trading Up 0.3 %

Shares of GE stock opened at $160.00 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 1-year low of $79.22 and a 1-year high of $170.80. The firm has a market capitalization of $175.14 billion, a PE ratio of 52.46, a P/E/G ratio of 2.83 and a beta of 1.25. The business’s fifty day moving average price is $163.04 and its 200 day moving average price is $140.71.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the company earned $0.27 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that General Electric will post 3.96 EPS for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, April 12th. This is an increase from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is 36.72%.

Analyst Ratings Changes

GE has been the topic of a number of research reports. Oppenheimer restated a “market perform” rating on shares of General Electric in a research note on Tuesday, March 5th. Bank of America upped their price target on shares of General Electric from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Wells Fargo & Company raised their price objective on shares of General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday, April 29th. Vertical Research started coverage on shares of General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 target price for the company. Finally, TheStreet raised General Electric from a “c+” rating to a “b+” rating in a report on Tuesday, January 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.21.

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About General Electric

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General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

See Also

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

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