Pzena Investment Management LLC Has $161.59 Million Holdings in General Electric (NYSE:GE)

Pzena Investment Management LLC decreased its holdings in shares of General Electric (NYSE:GE - Free Report) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,266,075 shares of the conglomerate's stock after selling 3,429,221 shares during the quarter. Pzena Investment Management LLC owned 0.12% of General Electric worth $161,589,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC grew its stake in General Electric by 29.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 28,311 shares of the conglomerate's stock worth $3,613,000 after purchasing an additional 6,419 shares in the last quarter. Fifth Third Bancorp grew its stake in General Electric by 12.5% in the fourth quarter. Fifth Third Bancorp now owns 261,187 shares of the conglomerate's stock worth $33,335,000 after purchasing an additional 28,985 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in General Electric by 10.9% in the third quarter. O Shaughnessy Asset Management LLC now owns 109,332 shares of the conglomerate's stock worth $12,087,000 after purchasing an additional 10,722 shares in the last quarter. USA Financial Formulas grew its stake in General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate's stock worth $1,294,000 after purchasing an additional 10,098 shares in the last quarter. Finally, Grandfield & Dodd LLC grew its stake in General Electric by 9.3% in the fourth quarter. Grandfield & Dodd LLC now owns 269,783 shares of the conglomerate's stock worth $34,432,000 after purchasing an additional 22,998 shares in the last quarter. Institutional investors own 74.77% of the company's stock.

General Electric Price Performance

Shares of General Electric stock traded down $0.20 on Wednesday, hitting $160.80. 4,430,945 shares of the company were exchanged, compared to its average volume of 7,621,334. General Electric has a 1-year low of $79.76 and a 1-year high of $170.80. The stock has a market capitalization of $176.01 billion, a price-to-earnings ratio of 52.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.25. The company has a 50-day moving average price of $162.43 and a 200 day moving average price of $143.06. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GE - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $16.10 billion for the quarter, compared to analyst estimates of $15.25 billion. General Electric had a return on equity of 12.54% and a net margin of 5.05%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts predict that General Electric will post 3.98 earnings per share for the current fiscal year.

General Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 25th. Shareholders of record on Monday, April 15th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, April 12th. This is an increase from General Electric's previous quarterly dividend of $0.08. General Electric's dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

GE has been the subject of a number of analyst reports. Citigroup upped their target price on General Electric from $120.43 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on General Electric from $148.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, May 13th. The Goldman Sachs Group increased their price objective on General Electric from $190.00 to $211.00 and gave the company a "buy" rating in a report on Wednesday, April 24th. Vertical Research initiated coverage on General Electric in a report on Thursday, April 4th. They set a "buy" rating and a $160.00 price objective for the company. Finally, TD Cowen upgraded General Electric from a "hold" rating to a "buy" rating and increased their price objective for the company from $175.00 to $180.00 in a report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.21.

About General Electric

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.