Coldstream Capital Management Inc. Makes New Investment in General Electric (NYSE:GE)

Posted by Defense World Staff on Mar 20th, 2023

Coldstream Capital Management Inc. acquired a new position in shares of General Electric (NYSE:GE – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,965 shares of the conglomerate’s stock, valued at approximately $1,003,000.

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

General Electric Stock Performance

General Electric stock opened at $90.29 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.86 and a current ratio of 1.16. The stock has a fifty day moving average of $83.12 and a two-hundred day moving average of $78.79. The company has a market capitalization of $98.35 billion, a price-to-earnings ratio of -3,009.67, a PEG ratio of 6.67 and a beta of 1.25. General Electric has a fifty-two week low of $46.55 and a fifty-two week high of $94.94.

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

General Electric Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently commented on GE. JPMorgan Chase & Co. raised their price target on General Electric from $88.00 to $100.00 in a report on Friday, March 10th. Wells Fargo & Company reduced their price target on General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, January 25th. Deutsche Bank Aktiengesellschaft raised their price target on General Electric from $89.00 to $94.00 in a report on Monday, December 5th. Royal Bank of Canada raised their price target on General Electric from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, March 10th. Finally, StockNews.com assumed coverage on General Electric in a report on Friday, March 10th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.14.

General Electric Profile

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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.