Guggenheim Capital LLC trimmed its holdings in shares of General Electric (NYSE:GE) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 407,428 shares of the conglomerate’s stock after selling 47,667 shares during the period. Guggenheim Capital LLC’s holdings in General Electric were worth $4,547,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CBIZ Investment Advisory Services LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $25,000. CLS Investments LLC boosted its holdings in shares of General Electric by 2,300.0% during the fourth quarter. CLS Investments LLC now owns 2,400 shares of the conglomerate’s stock worth $27,000 after purchasing an additional 2,300 shares during the period. Pacifica Partners Inc. purchased a new stake in shares of General Electric during the fourth quarter worth about $28,000. Manchester Financial Inc. purchased a new stake in shares of General Electric during the fourth quarter worth about $29,000. Finally, IndexIQ Advisors LLC purchased a new stake in shares of General Electric during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 62.53% of the company’s stock.
Several analysts have commented on GE shares. Credit Suisse Group restated a “hold” rating and issued a $11.00 price objective on shares of General Electric in a report on Wednesday, January 29th. JPMorgan Chase & Co. upgraded shares of General Electric from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $5.00 to $8.00 in a report on Monday, March 2nd. Barclays restated a “buy” rating and issued a $13.00 price objective on shares of General Electric in a report on Friday, March 13th. Citigroup lowered their price objective on shares of General Electric from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 6th. Finally, TheStreet upgraded shares of General Electric from a “d+” rating to a “c” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $11.35.
Shares of GE opened at $7.56 on Thursday. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.70 and a quick ratio of 1.51. General Electric has a one year low of $5.90 and a one year high of $13.26. The company has a 50-day simple moving average of $10.38 and a two-hundred day simple moving average of $10.50. The firm has a market capitalization of $61.28 billion, a PE ratio of -12.19, a price-to-earnings-growth ratio of 2.35 and a beta of 1.12.
General Electric (NYSE:GE) last announced its earnings results on Wednesday, January 29th. The conglomerate reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. General Electric had a negative net margin of 4.71% and a positive return on equity of 14.12%. The business had revenue of $26.24 billion during the quarter, compared to the consensus estimate of $25.77 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that General Electric will post 0.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Shareholders of record on Monday, March 9th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, March 6th. General Electric’s dividend payout ratio is 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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