ARK Investment Management LLC lessened its stake in General Electric (NYSE:GE – Get Rating) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,449 shares of the conglomerate’s stock after selling 7,474 shares during the quarter. ARK Investment Management LLC’s holdings in General Electric were worth $1,860,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of GE. Coston McIsaac & Partners purchased a new position in shares of General Electric in the second quarter worth $25,000. Addenda Capital Inc. bought a new stake in General Electric in the fourth quarter worth $26,000. MADDEN SECURITIES Corp bought a new stake in General Electric in the fourth quarter worth $28,000. Standard Family Office LLC bought a new stake in General Electric in the third quarter worth $29,000. Finally, RE Dickinson Investment Advisors LLC increased its position in General Electric by 37.5% in the third quarter. RE Dickinson Investment Advisors LLC now owns 477 shares of the conglomerate’s stock worth $30,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 70.12% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. UBS Group reduced their price target on shares of General Electric from $98.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, January 12th. Morgan Stanley boosted their price target on shares of General Electric from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group boosted their price target on shares of General Electric from $84.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, March 13th. Oppenheimer boosted their price objective on shares of General Electric from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Tuesday, March 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of General Electric from $88.00 to $100.00 in a research report on Friday, March 10th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $94.93.
General Electric Stock Up 1.6 %
General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings results on Tuesday, January 24th. The conglomerate reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $21.79 billion for the quarter, compared to analysts’ expectations of $22.11 billion. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.92 earnings per share. As a group, sell-side analysts expect that General Electric will post 1.98 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 issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s payout ratio is presently -1,066.67%.
General Electric Company Profile
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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