Zweig DiMenna Associates LLC Buys Shares of 1,338,263 General Electric (GE)

Zweig DiMenna Associates LLC bought a new stake in shares of General Electric (NYSE:GE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,338,263 shares of the conglomerate’s stock, valued at approximately $10,131,000.

Several other institutional investors have also recently made changes to their positions in GE. Farmers & Merchants Trust Co of Chambersburg PA grew its position in General Electric by 250.0% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock worth $26,000 after acquiring an additional 2,500 shares during the period. Mackey Komara & Dankovich LLC purchased a new position in shares of General Electric during the fourth quarter worth $27,000. Edge Wealth Management LLC boosted its position in shares of General Electric by 47.4% during the fourth quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock worth $31,000 after buying an additional 1,300 shares during the period. NuWave Investment Management LLC boosted its position in shares of General Electric by 170.3% during the fourth quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock worth $46,000 after buying an additional 3,790 shares during the period. Finally, Bogart Wealth LLC boosted its position in shares of General Electric by 16.5% during the fourth quarter. Bogart Wealth LLC now owns 9,907 shares of the conglomerate’s stock worth $74,000 after buying an additional 1,405 shares during the period. 56.98% of the stock is owned by institutional investors and hedge funds.

General Electric stock traded down $0.37 during midday trading on Friday, reaching $9.93. The company’s stock had a trading volume of 38,865,346 shares, compared to its average volume of 102,033,848. General Electric has a fifty-two week low of $6.66 and a fifty-two week high of $15.59. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.43. The stock has a market cap of $84.74 billion, a PE ratio of 15.28, a P/E/G ratio of 3.33 and a beta of 0.99.

General Electric (NYSE:GE) last posted its quarterly earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. The business had revenue of $33.28 billion during the quarter, compared to analyst estimates of $32.01 billion. On average, research analysts expect that General Electric will post 0.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio is presently 6.15%.

In other General Electric news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the sale, the insider now directly owns 265,986 shares in the company, valued at $2,641,240.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.12% of the stock is owned by company insiders.

GE has been the subject of several research analyst reports. Barclays lowered their price target on General Electric from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, December 17th. UBS Group set a $13.00 price target on General Electric and gave the stock a “buy” rating in a research report on Monday, December 10th. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. Goldman Sachs Group set a $9.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Friday, November 16th. Finally, William Blair restated a “buy” rating on shares of General Electric in a research report on Saturday, February 2nd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.44.

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About General Electric

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

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

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