General Electric (GE) Holdings Boosted by Cardinal Capital Management

Cardinal Capital Management boosted its position in General Electric (NYSE:GE) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,732 shares of the conglomerate’s stock after buying an additional 10,471 shares during the quarter. General Electric accounts for approximately 1.5% of Cardinal Capital Management’s holdings, making the stock its 16th biggest holding. Cardinal Capital Management owned about 0.29% of General Electric worth $4,829,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of General Electric by 43.8% in the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after purchasing an additional 23,764,129 shares in the last quarter. BlackRock Inc. raised its stake in shares of General Electric by 3.9% in the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after purchasing an additional 19,422,516 shares in the last quarter. Capital Research Global Investors raised its stake in shares of General Electric by 18.6% in the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after purchasing an additional 14,316,281 shares in the last quarter. Boston Partners raised its stake in shares of General Electric by 7,892.3% in the 2nd quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of General Electric by 1,011.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock valued at $395,219,000 after purchasing an additional 13,315,605 shares in the last quarter. Hedge funds and other institutional investors own 55.62% of the company’s stock.

In other news, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was purchased at an average price of $18.27 per share, for a total transaction of $1,096,200.00. Following the transaction, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Dsouza bought 55,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 120,500 shares of company stock worth $2,183,220. 0.36% of the stock is owned by company insiders.

Shares of General Electric (GE) opened at $17.45 on Tuesday. The firm has a market cap of $151,327.89, a PE ratio of 21.81, a P/E/G ratio of 1.89 and a beta of 1.07. General Electric has a 12 month low of $17.25 and a 12 month high of $31.83. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86.

General Electric (NYSE:GE) last released its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. General Electric’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. analysts expect that General Electric will post 1.07 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 annualized dividend and a yield of 2.75%. General Electric’s dividend payout ratio (DPR) is 60.00%.

A number of brokerages have recently issued reports on GE. JPMorgan Chase & Co. set a $22.00 target price on shares of General Electric and gave the company a “sell” rating in a research note on Tuesday, September 19th. Citigroup set a $28.00 target price on shares of General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. UBS Group lowered shares of General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $31.00 to $24.00 in a research note on Monday, October 23rd. Royal Bank of Canada lowered shares of General Electric from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Tuesday, November 14th. Finally, Deutsche Bank cut their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research note on Tuesday, November 21st. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.39.

WARNING: “General Electric (GE) Holdings Boosted by Cardinal Capital Management” was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.chaffeybreeze.com/2018/01/02/general-electric-ge-holdings-boosted-by-cardinal-capital-management.html.

General Electric Company Profile

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply