Oppenheimer & Co. Inc. Sells 2,805 Shares of General Electric (NYSE:GE)

Oppenheimer & Co. Inc. lessened its holdings in General Electric (NYSE:GE - Free Report) by 4.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,878 shares of the conglomerate's stock after selling 2,805 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in General Electric were worth $10,487,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GE. Jennison Associates LLC raised its holdings in General Electric by 91.8% during the 3rd quarter. Jennison Associates LLC now owns 7,771,759 shares of the conglomerate's stock worth $1,465,598,000 after purchasing an additional 3,719,894 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of General Electric by 505.8% in the 3rd quarter. Janus Henderson Group PLC now owns 1,908,434 shares of the conglomerate's stock worth $359,882,000 after acquiring an additional 1,593,413 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of General Electric by 206.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,444,466 shares of the conglomerate's stock valued at $278,247,000 after purchasing an additional 973,135 shares during the period. State Street Corp lifted its stake in shares of General Electric by 2.1% in the 3rd quarter. State Street Corp now owns 43,322,827 shares of the conglomerate's stock valued at $8,181,801,000 after purchasing an additional 898,296 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of General Electric by 12.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,106,786 shares of the conglomerate's stock valued at $774,458,000 after purchasing an additional 457,038 shares in the last quarter. 74.77% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

General Electric Stock Down 2.4 %

NYSE:GE traded down $5.07 during trading hours on Monday, hitting $201.91. 4,908,326 shares of the company traded hands, compared to its average volume of 5,257,682. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $216.71 billion, a PE ratio of 33.71, a PEG ratio of 2.59 and a beta of 1.22. The firm's 50-day simple moving average is $190.24 and its 200-day simple moving average is $182.20. General Electric has a one year low of $125.26 and a one year high of $212.19.

General Electric (NYSE:GE - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The conglomerate reported $1.32 earnings per share for the quarter, beating analysts' consensus estimates 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 predict that General Electric will post 5.4 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Monday, March 10th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from General Electric's previous quarterly dividend of $0.28. General Electric's payout ratio is presently 24.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GE shares. Redburn Atlantic began coverage on General Electric in a report on Tuesday, February 18th. They issued a "buy" rating and a $250.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Electric from $235.00 to $228.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. Northcoast Research assumed coverage on shares of General Electric in a research note on Tuesday, January 7th. They set a "neutral" rating on the stock. Bank of America lifted their price target on shares of General Electric from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Finally, Citigroup increased their price objective on shares of General Electric from $216.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $211.31.

General Electric Company Profile

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.