Mirabella Financial Services LLP boosted its holdings in General Electric (NYSE:GE - Free Report) by 204.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 88,196 shares of the conglomerate's stock after buying an additional 59,180 shares during the quarter. General Electric accounts for about 1.4% of Mirabella Financial Services LLP's investment portfolio, making the stock its 12th largest position. Mirabella Financial Services LLP's holdings in General Electric were worth $9,750,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in GE. Moneta Group Investment Advisors LLC lifted its stake in shares of General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate's stock valued at $878,644,000 after purchasing an additional 13,427,079 shares during the last quarter. Norges Bank acquired a new stake in shares of General Electric in the 4th quarter valued at $635,274,000. State Street Corp lifted its stake in shares of General Electric by 17.3% in the 1st quarter. State Street Corp now owns 48,490,012 shares of the conglomerate's stock valued at $4,639,533,000 after purchasing an additional 7,157,356 shares during the last quarter. Egerton Capital UK LLP acquired a new stake in shares of General Electric in the 2nd quarter valued at $418,951,000. Finally, BlackRock Inc. lifted its stake in shares of General Electric by 4.4% in the 2nd quarter. BlackRock Inc. now owns 70,480,887 shares of the conglomerate's stock valued at $7,742,325,000 after purchasing an additional 2,974,946 shares during the last quarter. Institutional investors and hedge funds own 74.83% of the company's stock.
Insiders Place Their Bets
In other General Electric news, SVP Michael J. Holston sold 22,055 shares of the stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total value of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Michael J. Holston sold 22,055 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares in the company, valued at $8,153,863.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the firm's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the sale, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The disclosure for this sale can be found here. Company insiders own 0.67% of the company's stock.
General Electric Trading Up 0.5 %
GE stock traded up $0.79 during midday trading on Friday, reaching $149.16. The company's stock had a trading volume of 6,876,932 shares, compared to its average volume of 5,850,526. General Electric has a 52 week low of $81.65 and a 52 week high of $150.36. The stock has a market cap of $162.34 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.20 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The business's 50-day simple moving average is $130.62 and its 200-day simple moving average is $119.44.
General Electric (NYSE:GE - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.13. General Electric had a net margin of 13.95% and a return on equity of 10.88%. The firm had revenue of $19.42 billion for the quarter, compared to analysts' expectations of $17.27 billion. During the same period last year, the firm earned $1.24 earnings per share. The business's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, sell-side analysts expect that General Electric will post 4.53 EPS for the current year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, January 25th. Shareholders of record on Thursday, December 28th were issued a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, December 27th. This represents a $0.32 annualized dividend and a yield of 0.21%. General Electric's dividend payout ratio (DPR) is presently 3.82%.
Wall Street Analysts Forecast Growth
GE has been the subject of several analyst reports. StockNews.com raised shares of General Electric from a "hold" rating to a "buy" rating in a research note on Thursday, February 1st. Citigroup upped their price target on shares of General Electric from $135.00 to $148.00 and gave the company a "buy" rating in a report on Monday, December 11th. Royal Bank of Canada decreased their price target on shares of General Electric from $150.00 to $148.00 and set an "outperform" rating for the company in a report on Wednesday, January 24th. TheStreet upgraded shares of General Electric from a "c+" rating to a "b+" rating in a report on Tuesday, January 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of General Electric from $124.00 to $136.00 and gave the company a "neutral" rating in a report on Wednesday, December 20th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.00.
Check Out Our Latest Research Report on General Electric
About General Electric
(
Free Report)
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
See Also
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