Associated Banc Corp decreased its stake in shares of General Electric Company (NYSE:GE) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 813,131 shares of the company’s stock after selling 8,156 shares during the period. General Electric Company accounts for approximately 1.6% of Associated Banc Corp’s investment portfolio, making the stock its 9th largest position. Associated Banc Corp’s holdings in General Electric Company were worth $25,695,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in General Electric Company by 3.0% in the fourth quarter. State Street Corp now owns 357,567,340 shares of the company’s stock valued at $11,299,139,000 after buying an additional 10,321,746 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in General Electric Company during the fourth quarter valued at $177,435,000. Acadian Asset Management LLC boosted its position in General Electric Company by 61.5% in the third quarter. Acadian Asset Management LLC now owns 7,870,526 shares of the company’s stock valued at $233,124,000 after buying an additional 2,998,167 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in General Electric Company during the third quarter valued at $56,167,000. Finally, BNP Paribas Arbitrage SA boosted its position in General Electric Company by 111.8% in the third quarter. BNP Paribas Arbitrage SA now owns 2,729,730 shares of the company’s stock valued at $80,854,000 after buying an additional 1,440,840 shares in the last quarter. Institutional investors and hedge funds own 54.68% of the company’s stock.
Shares of General Electric Company (NYSE:GE) opened at 29.74 on Tuesday. The company has a market capitalization of $259.48 billion, a price-to-earnings ratio of 33.30 and a beta of 1.20. General Electric Company has a 12 month low of $28.19 and a 12 month high of $33.00. The firm’s 50-day moving average price is $29.94 and its 200-day moving average price is $30.30.
General Electric Company (NYSE:GE) last released its quarterly earnings results on Friday, January 20th. The company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. General Electric Company had a net margin of 6.86% and a return on equity of 15.99%. The business had revenue of $33.10 billion for the quarter, compared to the consensus estimate of $33.67 billion. During the same period in the prior year, the company posted $0.52 earnings per share. General Electric Company’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that General Electric Company will post $1.63 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Monday, February 27th will be paid a $0.24 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $0.96 annualized dividend and a dividend yield of 3.23%. General Electric Company’s dividend payout ratio (DPR) is presently 106.67%.
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Several equities analysts have weighed in on GE shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $28.00 price target on shares of General Electric Company in a report on Thursday, January 5th. Goldman Sachs Group Inc set a $30.00 target price on General Electric Company and gave the stock a “neutral” rating in a report on Monday, November 21st. Zacks Investment Research cut General Electric Company from a “hold” rating to a “sell” rating in a report on Wednesday, November 30th. Sanford C. Bernstein upgraded General Electric Company from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $33.00 to $40.00 in a report on Thursday, December 15th. Finally, Vetr upgraded General Electric Company from a “buy” rating to a “strong-buy” rating and set a $34.04 target price for the company in a report on Monday, January 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $33.37.
In related news, Vice Chairman David Leon Joyce sold 159,662 shares of the company’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $29.56, for a total value of $4,719,608.72. Following the transaction, the insider now directly owns 738,907 shares in the company, valued at $21,842,090.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey S. Bornstein purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 31st. The stock was acquired at an average price of $29.63 per share, for a total transaction of $148,150.00. Following the completion of the purchase, the insider now directly owns 68,757 shares of the company’s stock, valued at approximately $2,037,269.91. The disclosure for this purchase can be found here. Corporate insiders own 0.23% of the company’s stock.
About General Electric Company
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