Macquarie Group Ltd. raised its stake in General Electric (NYSE:GE) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 212,109 shares of the conglomerate’s stock after buying an additional 4,601 shares during the period. Macquarie Group Ltd.’s holdings in General Electric were worth $5,128,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Argyle Capital Management Inc. raised its position in shares of General Electric by 1.4% during the second quarter. Argyle Capital Management Inc. now owns 162,677 shares of the conglomerate’s stock worth $4,394,000 after purchasing an additional 2,258 shares during the period. Cubic Asset Management LLC raised its position in shares of General Electric by 1.5% during the second quarter. Cubic Asset Management LLC now owns 234,961 shares of the conglomerate’s stock worth $6,346,000 after purchasing an additional 3,485 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of General Electric by 1.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 377,320 shares of the conglomerate’s stock worth $10,191,000 after purchasing an additional 6,990 shares during the period. John G Ullman & Associates Inc. raised its position in shares of General Electric by 310.5% during the second quarter. John G Ullman & Associates Inc. now owns 169,918 shares of the conglomerate’s stock worth $4,589,000 after purchasing an additional 128,526 shares during the period. Finally, Capital City Trust Co. FL raised its position in shares of General Electric by 0.5% during the second quarter. Capital City Trust Co. FL now owns 37,474 shares of the conglomerate’s stock worth $1,012,000 after purchasing an additional 190 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of General Electric (GE) opened at $14.82 on Tuesday. General Electric has a 1 year low of $14.23 and a 1 year high of $30.59. The stock has a market capitalization of $129,560.95, a P/E ratio of 14.23, a P/E/G ratio of 2.83 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.86 and a quick ratio of 1.53.

General Electric (NYSE:GE) last posted its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). The company had revenue of $31.40 billion during the quarter, compared to the consensus estimate of $33.93 billion. General Electric had a negative net margin of 4.74% and a positive return on equity of 12.26%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. equities analysts expect that General Electric will post 0.99 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a $0.12 dividend. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.24%. General Electric’s dividend payout ratio is -66.67%.

A number of equities research analysts have recently commented on GE shares. JPMorgan Chase & Co. dropped their price target on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Morningstar set a $23.50 price target on General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Citigroup dropped their price target on General Electric from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, January 25th. Bank of America raised General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 target price on General Electric and gave the company a “buy” rating in a research report on Monday, October 23rd. Five research analysts have rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.20.

In related news, insider Alexander Dimitrief purchased 2,689 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the completion of the purchase, the insider now directly owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the completion of the purchase, the director now owns 5,500 shares of the company’s stock, valued at $100,320. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 124,370 shares of company stock valued at $2,245,570. Corporate insiders own 0.36% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Macquarie Group Ltd. Has $5.13 Million Holdings in General Electric (GE)” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/02/13/macquarie-group-ltd-has-5-13-million-holdings-in-general-electric-ge.html.

General Electric Company 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.

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.