General Electric (NYSE:GE) Shares Purchased by Novare Capital Management LLC
Novare Capital Management LLC lifted its stake in General Electric (NYSE:GE) by 1.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,128 shares of the conglomerate’s stock after purchasing an additional 783 shares during the quarter. Novare Capital Management LLC’s holdings in General Electric were worth $626,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in General Electric by 1.9% during the 2nd quarter. BlackRock Inc. now owns 512,742,827 shares of the conglomerate’s stock worth $5,383,800,000 after buying an additional 9,483,976 shares during the last quarter. State Street Corp boosted its holdings in shares of General Electric by 1.2% in the 4th quarter. State Street Corp now owns 346,942,917 shares of the conglomerate’s stock valued at $3,875,290,000 after acquiring an additional 4,182,509 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of General Electric by 2.6% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 33,695,547 shares of the conglomerate’s stock worth $376,042,000 after acquiring an additional 863,181 shares during the period. Fisher Asset Management LLC increased its stake in shares of General Electric by 2.0% in the third quarter. Fisher Asset Management LLC now owns 31,380,452 shares of the conglomerate’s stock worth $280,541,000 after acquiring an additional 610,113 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of General Electric by 2.5% in the fourth quarter. New York State Common Retirement Fund now owns 24,998,218 shares of the conglomerate’s stock worth $278,980,000 after acquiring an additional 606,167 shares during the period. 60.17% of the stock is owned by hedge funds and other institutional investors.
Shares of GE traded down $0.11 during trading hours on Friday, hitting $12.83. The stock had a trading volume of 36,712,987 shares, compared to its average volume of 65,823,883. The firm has a 50-day moving average price of $11.99 and a 200 day moving average price of $10.33. General Electric has a fifty-two week low of $7.65 and a fifty-two week high of $13.26. The firm has a market capitalization of $111.88 billion, a price-to-earnings ratio of -20.69, a PEG ratio of 3.31 and a beta of 1.14. The company has a debt-to-equity ratio of 3.16, a quick ratio of 1.60 and a current ratio of 1.84.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 27th. Stockholders of record on Monday, March 9th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, March 6th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
A number of research analysts recently issued reports on GE shares. Royal Bank of Canada restated a “buy” rating and set a $13.00 target price on shares of General Electric in a research report on Wednesday, October 30th. Cowen reaffirmed a “hold” rating and set a $8.00 price target on shares of General Electric in a research report on Wednesday, January 29th. Credit Suisse Group reiterated a “hold” rating and set a $11.00 price objective on shares of General Electric in a research note on Wednesday, January 29th. ValuEngine upgraded General Electric from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, William Blair reissued a “buy” rating on shares of General Electric in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.29.
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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