Federated Hermes Inc. grew its holdings in General Electric (NYSE:GE – Get Rating) by 2.9% in the second quarter, HoldingsChannel reports. The fund owned 315,961 shares of the conglomerate’s stock after buying an additional 8,776 shares during the period. Federated Hermes Inc.’s holdings in General Electric were worth $20,117,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of GE. Tcwp LLC acquired a new position in shares of General Electric during the 1st quarter worth approximately $28,000. Van ECK Associates Corp increased its stake in General Electric by 144.5% during the 1st quarter. Van ECK Associates Corp now owns 5,443 shares of the conglomerate’s stock worth $498,000 after acquiring an additional 3,217 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in shares of General Electric by 11.7% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 63,882 shares of the conglomerate’s stock valued at $5,845,000 after acquiring an additional 6,677 shares during the period. Aaron Wealth Advisors LLC acquired a new stake in shares of General Electric during the 1st quarter worth $576,000. Finally, AGF Investments LLC lifted its position in General Electric by 9.4% during the first quarter. AGF Investments LLC now owns 8,716 shares of the conglomerate’s stock worth $798,000 after purchasing an additional 752 shares during the period. 67.09% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GE has been the topic of several analyst reports. Barclays increased their price target on shares of General Electric from $92.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada lifted their price target on General Electric from $93.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, December 9th. Morgan Stanley upped their price objective on General Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, October 27th. Wells Fargo & Company lifted their target price on General Electric from $73.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on General Electric from $89.00 to $94.00 in a research note on Monday, December 5th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.83.
General Electric Stock Down 1.5 %
NYSE:GE opened at $77.65 on Friday. General Electric has a one year low of $59.93 and a one year high of $103.73. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.10 and a quick ratio of 0.78. The company has a market cap of $84.85 billion, a PE ratio of -14.04, a P/E/G ratio of 4.59 and a beta of 1.24. The firm’s 50 day simple moving average is $79.85 and its 200 day simple moving average is $73.52.
General Electric (NYSE:GE – Get Rating) last released its quarterly earnings results on Tuesday, October 25th. The conglomerate reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.12). The business had revenue of $19.08 billion for the quarter, compared to the consensus estimate of $18.77 billion. General Electric had a negative net margin of 7.78% and a positive return on equity of 7.20%. General Electric’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, research analysts anticipate that General Electric will post 2.54 earnings per share for the current year.
General Electric Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Thursday, December 15th will be paid a $0.08 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $0.32 annualized dividend and a dividend yield of 0.41%. General Electric’s payout ratio is -5.79%.
General Electric Company Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment 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.
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