Supplemental Annuity Collective Trust of NJ Has $681,000 Position in General Electric (NYSE:GE) – Fairfield Current
Supplemental Annuity Collective Trust of NJ increased its holdings in General Electric (NYSE:GE) by 9.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,000 shares of the conglomerate’s stock after purchasing an additional 8,000 shares during the quarter. Supplemental Annuity Collective Trust of NJ’s holdings in General Electric were worth $681,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of General Electric by 250.0% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 3,500 shares of the conglomerate’s stock valued at $26,000 after acquiring an additional 2,500 shares in the last quarter. Mackey Komara & Dankovich LLC bought a new position in General Electric during the 4th quarter valued at about $27,000. Edge Wealth Management LLC lifted its holdings in General Electric by 47.4% during the 4th quarter. Edge Wealth Management LLC now owns 4,045 shares of the conglomerate’s stock valued at $31,000 after purchasing an additional 1,300 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in General Electric by 170.3% during the 4th quarter. NuWave Investment Management LLC now owns 6,016 shares of the conglomerate’s stock valued at $46,000 after purchasing an additional 3,790 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in General Electric by 24.8% during the 3rd quarter. Tortoise Investment Management LLC now owns 8,654 shares of the conglomerate’s stock valued at $98,000 after purchasing an additional 1,719 shares during the last quarter. 56.86% of the stock is owned by institutional investors.
Shares of NYSE GE traded down $0.29 during trading on Friday, reaching $9.98. The company had a trading volume of 81,465,265 shares, compared to its average volume of 112,535,976. The stock has a market cap of $89.17 billion, a P/E ratio of 15.35, a P/E/G ratio of 4.57 and a beta of 0.99. The company has a current ratio of 1.81, a quick ratio of 1.52 and a debt-to-equity ratio of 1.85. General Electric has a 12-month low of $6.66 and a 12-month high of $15.59.
General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. General Electric had a negative net margin of 18.38% and a positive return on equity of 9.85%. As a group, analysts forecast that General Electric will post 0.53 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Shareholders of record on Monday, March 11th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
Several equities research analysts have weighed in on GE shares. ValuEngine upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research lowered shares of General Electric from a “hold” rating to a “sell” rating in a research report on Tuesday. Royal Bank of Canada set a $12.00 price objective on shares of General Electric and gave the company a “buy” rating in a report on Monday, March 18th. Credit Suisse Group restated a “neutral” rating and issued a $11.00 price target on shares of General Electric in a research note on Friday, March 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $6.00 price objective on shares of General Electric in a research report on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.44.
In other General Electric news, insider Russell Stokes sold 49,904 shares of General Electric stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the sale, the insider now directly owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.12% of the company’s stock.
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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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