Bartlett & Co. LLC Sells 450 Shares of General Electric (NYSE:GE)

Posted by on Mar 18th, 2023

Bartlett & Co. LLC lowered its stake in shares of General Electric (NYSE:GE – Get Rating) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,142 shares of the conglomerate’s stock after selling 450 shares during the period. Bartlett & Co. LLC’s holdings in General Electric were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in General Electric by 0.7% during the third quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock worth $5,330,997,000 after buying an additional 625,757 shares during the last quarter. FMR LLC lifted its holdings in shares of General Electric by 8.4% during the 2nd quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after purchasing an additional 5,197,786 shares in the last quarter. Dodge & Cox lifted its holdings in shares of General Electric by 178.6% during the 2nd quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock valued at $1,844,309,000 after purchasing an additional 18,569,368 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of General Electric by 5.6% during the 3rd quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock valued at $851,982,000 after purchasing an additional 725,871 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of General Electric by 1.2% during the 2nd quarter. Northern Trust Corp now owns 10,668,591 shares of the conglomerate’s stock valued at $679,270,000 after purchasing an additional 127,322 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.

General Electric Trading Down 1.8 %

Shares of GE stock opened at $90.29 on Friday. The stock has a market cap of $98.35 billion, a price-to-earnings ratio of -3,009.67, a PEG ratio of 6.62 and a beta of 1.25. The stock has a 50-day moving average of $83.12 and a 200-day moving average of $78.73. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76. General Electric has a 1-year low of $46.55 and a 1-year high of $94.94.

General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. The company had revenue of $21.79 billion during the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a return on equity of 8.47% and a net margin of 0.29%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that General Electric will post 1.97 earnings per share for the current year.

General Electric Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Tuesday, March 6th. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. General Electric’s payout ratio is -1,066.67%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GE. Oppenheimer lifted their price objective on General Electric from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Tuesday. Barclays lifted their target price on General Electric from $81.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Wells Fargo & Company dropped their target price on General Electric from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 25th. Citigroup boosted their price target on General Electric from $87.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, December 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on General Electric from $89.00 to $94.00 in a research report on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, General Electric has an average rating of “Moderate Buy” and a consensus target price of $93.14.

About General Electric

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.

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

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