General Electric (NYSE:GE) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its position in General Electric (NYSE:GE) by 968.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 528,705 shares of the conglomerate’s stock after purchasing an additional 479,209 shares during the period. Federated Hermes Inc.’s holdings in General Electric were worth $67,479,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GE. Sei Investments Co. raised its holdings in shares of General Electric by 10.0% in the first quarter. Sei Investments Co. now owns 305,384 shares of the conglomerate’s stock valued at $27,925,000 after buying an additional 27,682 shares during the last quarter. Prudential PLC acquired a new position in General Electric in the 1st quarter valued at $1,518,000. Sequoia Financial Advisors LLC increased its stake in General Electric by 2.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 11,748 shares of the conglomerate’s stock valued at $1,075,000 after buying an additional 334 shares during the period. Merit Financial Group LLC purchased a new stake in shares of General Electric in the first quarter valued at about $388,000. Finally, West Family Investments Inc. acquired a new stake in General Electric in the first quarter valued at about $230,000. 74.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on General Electric from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Jefferies Financial Group dropped their target price on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, April 10th. TD Cowen upgraded General Electric from a “hold” rating to a “buy” rating and upped their price target for the stock from $175.00 to $180.00 in a report on Tuesday, April 9th. Vertical Research initiated coverage on General Electric in a report on Thursday, April 4th. They set a “buy” rating and a $160.00 price objective for the company. Finally, Oppenheimer reissued a “market perform” rating on shares of General Electric in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $160.07.

General Electric Stock Down 1.7 %

Shares of NYSE GE opened at $152.95 on Friday. The stock has a market capitalization of $167.22 billion, a PE ratio of 18.27, a P/E/G ratio of 3.05 and a beta of 1.29. The company has a quick ratio of 0.85, a current ratio of 1.18 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average of $159.15 and a 200-day moving average of $134.10. General Electric has a 52-week low of $76.87 and a 52-week high of $158.68.

General Electric (NYSE:GE) last released its quarterly earnings data on Tuesday, January 23rd. The conglomerate reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.13. General Electric had a return on equity of 10.88% and a net margin of 13.95%. The business had revenue of $19.42 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period in the previous year, the company posted $1.24 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, analysts anticipate that General Electric will post 3.78 EPS for the current year.

General Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, April 15th will be given a $0.28 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. This is a positive change from General Electric’s previous quarterly dividend of $0.08. General Electric’s dividend payout ratio is presently 13.38%.

Insider Activity

In other General Electric news, SVP Michael J. Holston sold 13,601 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $135.55, for a total transaction of $1,843,615.55. Following the transaction, the senior vice president now owns 48,339 shares in the company, valued at $6,552,351.45. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Michael J. Holston sold 22,055 shares of General Electric stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $144.87, for a total transaction of $3,195,107.85. Following the sale, the senior vice president now directly owns 56,284 shares of the company’s stock, valued at $8,153,863.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael J. Holston sold 13,601 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $135.55, for a total value of $1,843,615.55. Following the completion of the transaction, the senior vice president now directly owns 48,339 shares of the company’s stock, valued at approximately $6,552,351.45. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

About General Electric

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.