Cypress Capital Management LLC decreased its position in General Electric (NYSE:GE) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,098 shares of the conglomerate’s stock after selling 12,365 shares during the period. Cypress Capital Management LLC’s holdings in General Electric were worth $765,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GE. Grove Bank & Trust bought a new stake in General Electric during the 3rd quarter worth approximately $274,000. Arizona State Retirement System grew its position in General Electric by 1.0% during the 3rd quarter. Arizona State Retirement System now owns 2,154,123 shares of the conglomerate’s stock worth $24,320,000 after acquiring an additional 20,500 shares during the last quarter. Bridgewater Associates LP bought a new stake in General Electric during the 3rd quarter worth approximately $22,723,000. Toronto Dominion Bank grew its position in General Electric by 7.7% during the 3rd quarter. Toronto Dominion Bank now owns 6,182,118 shares of the conglomerate’s stock worth $69,780,000 after acquiring an additional 442,667 shares during the last quarter. Finally, National Pension Service grew its position in General Electric by 0.3% during the 3rd quarter. National Pension Service now owns 7,744,745 shares of the conglomerate’s stock worth $87,438,000 after acquiring an additional 22,956 shares during the last quarter. 57.72% of the stock is owned by hedge funds and other institutional investors.
Shares of GE opened at $9.14 on Wednesday. The firm has a market capitalization of $78.14 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 3.98 and a beta of 0.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.52 and a current ratio of 1.81. General Electric has a 52 week low of $6.66 and a 52 week high of $15.59.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 25th. Stockholders of record on Monday, March 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, March 8th. General Electric’s dividend payout ratio (DPR) is currently 6.15%.
A number of equities research analysts recently commented on GE shares. Vertical Research upgraded General Electric from a “hold” rating to a “buy” rating in a research report on Wednesday, December 19th. ValuEngine upgraded General Electric from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Credit Suisse Group set a $10.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Thursday, January 3rd. William Blair restated a “buy” rating on shares of General Electric in a research report on Monday, January 14th. Finally, Bank of America restated a “hold” rating and set a $11.00 price target on shares of General Electric in a research report on Thursday, January 31st. Two 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. General Electric currently has an average rating of “Hold” and a consensus target price of $12.39.
In other news, insider Russell Stokes sold 49,904 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $9.93, for a total value of $495,546.72. Following the transaction, the insider now owns 265,986 shares of the company’s stock, valued at approximately $2,641,240.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.13% of the company’s stock.
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General Electric Profile
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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