Gladstone Capital Management LLP Sells 159,929 Shares of General Electric (NYSE:GE)

Gladstone Capital Management LLP trimmed its position in General Electric (NYSE:GE) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing 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 quarter. General Electric makes up approximately 6.2% of Gladstone Capital Management LLP’s portfolio, making the stock its 8th largest position. Gladstone Capital Management LLP’s holdings in General Electric were worth $74,295,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GE. Paloma Partners Management Co acquired a new stake in General Electric during the 3rd quarter worth about $270,000. Quarry LP boosted its holdings in shares of General Electric by 564.7% during the third quarter. Quarry LP now owns 226 shares of the conglomerate’s stock worth $43,000 after purchasing an additional 192 shares during the period. Stifel Financial Corp grew its position in General Electric by 10.0% during the third quarter. Stifel Financial Corp now owns 664,660 shares of the conglomerate’s stock valued at $125,345,000 after purchasing an additional 60,643 shares in the last quarter. Temasek Holdings Private Ltd grew its position in General Electric by 49.3% during the third quarter. Temasek Holdings Private Ltd now owns 228,907 shares of the conglomerate’s stock valued at $43,167,000 after purchasing an additional 75,580 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in General Electric in the 3rd quarter valued at approximately $6,733,000. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GE. JPMorgan Chase & Co. lifted their target price on shares of General Electric from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. Bank of America lifted their price objective on General Electric from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Redburn Atlantic initiated coverage on General Electric in a research report on Tuesday, February 18th. They issued a “buy” rating and a $250.00 target price on the stock. UBS Group lifted their price target on General Electric from $215.00 to $235.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, Citigroup increased their price objective on General Electric from $216.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, General Electric has a consensus rating of “Moderate Buy” and an average target price of $214.73.

General Electric Trading Down 11.1 %

Shares of GE stock opened at $166.76 on Friday. The business’s 50 day moving average is $201.56 and its two-hundred day moving average is $187.02. The company has a quick ratio of 0.81, a current ratio of 1.09 and a debt-to-equity ratio of 0.88. General Electric has a 12 month low of $146.78 and a 12 month high of $214.21. The company has a market cap of $178.98 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.59 and a beta of 1.04.

General Electric (NYSE:GE) last announced its earnings results on Thursday, January 23rd. The conglomerate reported $1.32 EPS for the quarter, topping 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 predict that General Electric will post 5.4 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Monday, March 10th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, March 10th. This is a boost from General Electric’s previous quarterly dividend of $0.28. General Electric’s payout ratio is currently 24.04%.

General Electric 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.