Gladstone Capital Management LLP trimmed its stake in General Electric (NYSE:GE - Free Report) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 445,442 shares of the conglomerate's stock after selling 159,929 shares during the period. General Electric comprises about 6.2% of Gladstone Capital Management LLP's investment portfolio, making the stock its 8th largest position. Gladstone Capital Management LLP's holdings in General Electric were worth $74,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in General Electric by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 89,815,318 shares of the conglomerate's stock worth $14,980,297,000 after buying an additional 410,172 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of General Electric by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 23,117,418 shares of the conglomerate's stock worth $3,846,587,000 after purchasing an additional 529,457 shares in the last quarter. Norges Bank bought a new stake in shares of General Electric during the fourth quarter valued at approximately $2,375,439,000. Jennison Associates LLC increased its holdings in shares of General Electric by 1.4% in the fourth quarter. Jennison Associates LLC now owns 7,878,650 shares of the conglomerate's stock valued at $1,314,080,000 after purchasing an additional 106,891 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in General Electric by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,766,421 shares of the conglomerate's stock worth $1,128,571,000 after purchasing an additional 115,257 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.
General Electric Stock Up 1.0 %
GE traded up $1.71 during trading on Tuesday, reaching $169.41. The company had a trading volume of 8,033,292 shares, compared to its average volume of 5,464,447. The company has a market cap of $181.82 billion, a P/E ratio of 28.26, a PEG ratio of 2.59 and a beta of 1.04. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.09 and a quick ratio of 0.81. The business's fifty day moving average price is $201.02 and its 200 day moving average price is $186.96.
General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, beating the consensus estimate of $1.05 by $0.27. General Electric had a net margin of 14.31% and a return on equity of 22.19%. Equities analysts anticipate that General Electric will post 5.4 EPS for the current year.
General Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from General Electric's previous quarterly dividend of $0.28. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.85%. General Electric's dividend payout ratio (DPR) is presently 24.04%.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on GE. Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $235.00 to $228.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on General Electric from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Northcoast Research began coverage on shares of General Electric in a research note on Tuesday, January 7th. They issued a "neutral" rating on the stock. UBS Group boosted their price target on shares of General Electric from $215.00 to $235.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, Citigroup raised their price objective on shares of General Electric from $216.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $214.73.
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About General Electric
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Free Report)
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.
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