Piedmont Investment Advisors Inc. Grows Holdings in General Electric (GE)

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Piedmont Investment Advisors Inc. boosted its holdings in shares of General Electric (NYSE:GE) by 337.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 395,046 shares of the conglomerate’s stock after acquiring an additional 304,764 shares during the period. Piedmont Investment Advisors Inc.’s holdings in General Electric were worth $2,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Essex Investment Management Co. LLC acquired a new position in General Electric during the fourth quarter worth $41,000. Point View Wealth Management Inc. raised its holdings in General Electric by 54.4% during the fourth quarter. Point View Wealth Management Inc. now owns 167,189 shares of the conglomerate’s stock worth $1,266,000 after buying an additional 58,933 shares during the last quarter. Parkwood LLC raised its holdings in General Electric by 51.4% during the fourth quarter. Parkwood LLC now owns 743,990 shares of the conglomerate’s stock worth $5,632,000 after buying an additional 252,461 shares during the last quarter. Stelac Advisory Services LLC raised its holdings in General Electric by 21.7% during the fourth quarter. Stelac Advisory Services LLC now owns 73,000 shares of the conglomerate’s stock worth $553,000 after buying an additional 13,000 shares during the last quarter. Finally, Bellecapital International Ltd. raised its holdings in General Electric by 6.9% during the fourth quarter. Bellecapital International Ltd. now owns 20,390 shares of the conglomerate’s stock worth $154,000 after buying an additional 1,323 shares during the last quarter. Hedge funds and other institutional investors own 57.75% of the company’s stock.

In other news, insider Russell Stokes sold 49,904 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total value of $495,546.72. Following the completion of the sale, the insider now owns 265,986 shares in the company, valued at approximately $2,641,240.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.13% of the company’s stock.

NYSE GE opened at $9.12 on Friday. General Electric has a 1 year low of $6.66 and a 1 year high of $15.59. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.81 and a quick ratio of 1.52. The firm has a market capitalization of $81.01 billion, a PE ratio of 14.03, a PEG ratio of 3.78 and a beta of 0.99.

General Electric (NYSE:GE) last posted its earnings results on Thursday, January 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). General Electric had a positive return on equity of 9.85% and a negative net margin of 18.38%. The firm had revenue of $33.28 billion during the quarter, compared to the consensus estimate of $32.01 billion. Analysts forecast that General Electric will post 0.58 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 25th. Stockholders of record on Monday, March 11th were paid a $0.01 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.44%. General Electric’s payout ratio is 6.15%.

Several research analysts have weighed in on GE shares. Gabelli restated a “buy” rating on shares of General Electric in a report on Tuesday, February 26th. Argus upgraded shares of General Electric from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. William Blair restated a “buy” rating on shares of General Electric in a report on Monday, January 14th. Royal Bank of Canada restated a “buy” rating and set a $12.00 price objective on shares of General Electric in a report on Wednesday, March 6th. Finally, Vertical Research downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $12.39.

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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.

Further Reading: Diversification

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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