Robeco Institutional Asset Management B.V. cut its stake in General Electric (NYSE:GE – Get Rating) by 8.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,522 shares of the conglomerate’s stock after selling 27,562 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in General Electric were worth $17,861,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Dodge & Cox boosted its holdings in General Electric by 178.6% during the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock valued at $1,844,309,000 after acquiring an additional 18,569,368 shares during the period. FMR LLC boosted its holdings in General Electric by 8.4% during the second quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock valued at $4,263,567,000 after acquiring an additional 5,197,786 shares during the period. Renaissance Technologies LLC boosted its holdings in General Electric by 266.5% during the second quarter. Renaissance Technologies LLC now owns 4,324,957 shares of the conglomerate’s stock valued at $275,370,000 after acquiring an additional 3,145,000 shares during the period. Voya Investment Management LLC bought a new stake in General Electric during the second quarter valued at about $46,709,000. Finally, Pzena Investment Management LLC boosted its holdings in General Electric by 5.6% during the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock valued at $851,982,000 after acquiring an additional 725,871 shares during the period. 70.12% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently weighed in on GE. Wells Fargo & Company reduced their target price on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 25th. TheStreet upgraded shares of General Electric from a “c” rating to a “b-” rating in a research note on Friday, February 10th. JPMorgan Chase & Co. increased their target price on shares of General Electric from $88.00 to $100.00 in a research note on Friday, March 10th. Oppenheimer increased their target price on shares of General Electric from $98.00 to $102.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their target price on shares of General Electric from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, March 13th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $93.14.
General Electric Stock Down 1.8 %
General Electric (NYSE:GE – Get Rating) last posted its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.13. The company had revenue of $21.79 billion during the quarter, compared to analyst estimates of $22.11 billion. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. Equities analysts predict that General Electric will post 1.97 EPS for the current fiscal year.
General Electric Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 25th. Stockholders of record on Tuesday, March 7th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, March 6th. General Electric’s payout ratio is -1,066.67%.
About General Electric
General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.
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