Stonebridge Capital Management Inc. raised its stake in General Electric (NYSE:GE) by 12.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 347,440 shares of the conglomerate’s stock after acquiring an additional 37,906 shares during the period. General Electric accounts for approximately 3.2% of Stonebridge Capital Management Inc.’s holdings, making the stock its 8th biggest position. Stonebridge Capital Management Inc.’s holdings in General Electric were worth $8,401,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Vanguard Group Inc. raised 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 stake in General Electric by 3.9% during 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 during the period. Capital World Investors raised its stake in General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after purchasing an additional 11,194,678 shares during the period. Capital Research Global Investors raised its stake in General Electric by 18.6% during 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 during the period. Finally, Franklin Resources Inc. raised its stake in General Electric by 43.8% during 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 during the period. 55.64% of the stock is currently owned by institutional investors.

Several brokerages have issued reports on GE. Vetr raised shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $22.05 target price on the stock in a research note on Monday, January 15th. Vertical Research set a $18.00 target price on shares of General Electric and gave the company a “hold” rating in a research note on Tuesday, January 16th. JPMorgan Chase & Co. reissued a “sell” rating and set a target price on shares of General Electric in a research note on Monday, January 15th. Deutsche Bank reissued a “sell” rating and set a $15.00 target price on shares of General Electric in a research note on Wednesday. Finally, Cowen reissued a “hold” rating and set a $19.00 target price on shares of General Electric in a research note on Wednesday, November 8th. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.94.

In related news, Director Francisco Dsouza purchased 55,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were acquired at an average cost of $17.94 per share, with a total value of $986,700.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John Leonard Flannery acquired 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the acquisition, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The disclosure for this purchase can be found here. Insiders bought 120,500 shares of company stock worth $2,183,220 over the last ninety days. 0.36% of the stock is currently owned by company insiders.

General Electric (GE) opened at $16.26 on Friday. General Electric has a one year low of $16.02 and a one year high of $30.90. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market cap of $141,008.11, a price-to-earnings ratio of 20.33, a PEG ratio of 2.98 and a beta of 1.07.

General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period last year, the company posted $0.32 earnings per share. The company’s revenue was up 11.5% compared to the same quarter last year. research analysts predict that General Electric will post 1.05 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Tuesday, December 26th. General Electric’s dividend payout ratio (DPR) is presently 60.00%.

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General Electric Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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

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