Dorsey Wright & Associates Has $1.58 Million Stake in General Electric (NYSE:GE)

Dorsey Wright & Associates lessened its holdings in General Electric (NYSE:GEFree Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,388 shares of the conglomerate’s stock after selling 245 shares during the quarter. Dorsey Wright & Associates’ holdings in General Electric were worth $1,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of General Electric during the 4th quarter valued at about $1,193,159,000. WCM Investment Management LLC bought a new stake in General Electric in the 4th quarter worth approximately $520,488,000. Brown Advisory Inc. boosted its holdings in General Electric by 62.3% during the 4th quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after acquiring an additional 1,873,327 shares during the period. International Assets Investment Management LLC raised its position in shares of General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after acquiring an additional 1,563,484 shares in the last quarter. Finally, Carmignac Gestion acquired a new position in General Electric during the 3rd quarter valued at about $133,581,000. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the sale, the senior vice president now directly owns 112,958 shares in the company, valued at approximately $18,391,821.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

General Electric Stock Performance

NYSE:GE traded down $0.70 on Tuesday, reaching $160.76. 346,339 shares of the company’s stock were exchanged, compared to its average volume of 7,473,037. The stock has a fifty day simple moving average of $161.31 and a 200-day simple moving average of $146.10. The firm has a market cap of $175.97 billion, a price-to-earnings ratio of 52.92, a P/E/G ratio of 1.82 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.17 and a quick ratio of 0.82. General Electric has a 52 week low of $82.11 and a 52 week high of $170.80.

General Electric (NYSE:GEGet Free Report) last issued its earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The business had revenue of $16.10 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the firm earned $0.27 EPS. General Electric’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that General Electric will post 3.98 earnings per share for the current year.

General Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, April 15th were paid a dividend of $0.28 per share. This is a boost from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.70%. General Electric’s dividend payout ratio is currently 36.72%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Vertical Research started coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 target price for the company. Royal Bank of Canada lifted their price objective on General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on General Electric from $165.00 to $192.00 and gave the stock an “overweight” rating in a report on Monday, April 29th. The Goldman Sachs Group raised their price target on shares of General Electric from $190.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, UBS Group raised their price objective on shares of General Electric from $191.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $176.00.

Check Out Our Latest Report on General Electric

General Electric Profile

(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.

See Also

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

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