Douglas Lane & Associates LLC Decreases Stake in General Electric (GE)

Douglas Lane & Associates LLC cut its holdings in General Electric (NYSE:GE) by 65.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 230,941 shares of the conglomerate’s stock after selling 430,100 shares during the period. Douglas Lane & Associates LLC’s holdings in General Electric were worth $4,030,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after purchasing an additional 3,297,890 shares during the period. BlackRock Inc. raised its position in shares of General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after buying an additional 19,422,516 shares in the last quarter. Capital World Investors raised its position in shares of General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after buying an additional 11,194,678 shares in the last quarter. Capital Research Global Investors raised its position in shares of General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after buying an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after buying an additional 23,764,129 shares in the last quarter. 56.30% of the stock is owned by institutional investors and hedge funds.

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In other General Electric news, insider Alexander Dimitrief bought 2,689 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.12% of the stock is owned by insiders.

NYSE GE opened at $13.49 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. General Electric has a 12 month low of $12.73 and a 12 month high of $30.54. The company has a market capitalization of $114,436.36, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 2.56 and a beta of 1.02.

General Electric (NYSE:GE) last released its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The business had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. research analysts expect that General Electric will post 0.96 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.56%. General Electric’s payout ratio is currently 45.71%.

A number of research firms have commented on GE. Vetr downgraded shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price target on the stock. in a research report on Wednesday, January 10th. JPMorgan Chase restated an “underweight” rating and set a $14.00 price target (down from $16.00) on shares of General Electric in a research report on Monday, February 12th. Royal Bank of Canada dropped their price target on shares of General Electric to $17.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 25th. Citigroup set a $23.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, DZ Bank restated a “neutral” rating on shares of General Electric in a research report on Friday, January 26th. Seven investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. General Electric currently has an average rating of “Hold” and a consensus price target of $17.86.

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General Electric Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

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

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