Retirement Capital Strategies Trims Stake in General Electric (GE)
Retirement Capital Strategies reduced its position in shares of General Electric (NYSE:GE) by 19.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,127 shares of the conglomerate’s stock after selling 4,763 shares during the period. General Electric comprises 0.3% of Retirement Capital Strategies’ investment portfolio, making the stock its 14th largest holding. Retirement Capital Strategies’ holdings in General Electric were worth $472,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares during the period. BlackRock Inc. lifted its stake in shares of General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares during the period. Capital World Investors lifted its stake in shares of General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares during the period. Capital Research Global Investors lifted its stake in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares during the period. Institutional investors own 55.54% of the company’s stock.
General Electric (NYSE:GE) opened at $14.94 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.59 and a debt-to-equity ratio of 1.32. General Electric has a 12-month low of $13.95 and a 12-month high of $30.54. The firm has a market capitalization of $129,717.69, a P/E ratio of -20.75, a PEG ratio of 2.83 and a beta of 1.00.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Monday, February 26th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, February 23rd. General Electric’s payout ratio is -66.67%.
In other news, insider Alexander Dimitrief bought 2,689 shares of the stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $16.16 per share, with a total value of $43,454.24. Following the completion of the transaction, the insider now directly owns 81,185 shares of the company’s stock, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.36% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on GE shares. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $21.08 price objective on the stock. in a research note on Wednesday, January 10th. Bank of America reissued a “buy” rating and issued a $23.00 price target (down from $27.00) on shares of General Electric in a research note on Tuesday, November 14th. Morningstar reissued a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Citigroup set a $25.00 price target on General Electric and gave the company a “buy” rating in a research note on Tuesday, November 14th. Finally, TheStreet lowered General Electric from a “c” rating to a “d+” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.44.
About General Electric
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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