Federated Hermes Inc. Has $67.48 Million Position in General Electric (NYSE:GE)

Federated Hermes Inc. grew its holdings in General Electric (NYSE:GE) by 968.2% during the fourth quarter, Holdings Channel reports. The firm owned 528,705 shares of the conglomerate’s stock after acquiring an additional 479,209 shares during the quarter. Federated Hermes Inc.’s holdings in General Electric were worth $67,479,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Waterfront Wealth Inc. bought a new position in General Electric during the fourth quarter worth $237,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of General Electric by 52.5% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,105 shares of the conglomerate’s stock worth $269,000 after purchasing an additional 725 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in shares of General Electric by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 98,149 shares of the conglomerate’s stock valued at $12,527,000 after buying an additional 6,527 shares during the period. Continuum Wealth Advisors LLC bought a new stake in General Electric in the 4th quarter valued at about $207,000. Finally, Telos Capital Management Inc. raised its stake in General Electric by 6.8% during the 4th quarter. Telos Capital Management Inc. now owns 3,847 shares of the conglomerate’s stock worth $491,000 after buying an additional 244 shares during the period. Institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

GE has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of General Electric in a research note on Tuesday, April 9th. They issued a “buy” rating and a $190.00 price objective on the stock. Wells Fargo & Company dropped their price target on shares of General Electric from $200.00 to $165.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Jefferies Financial Group reduced their price objective on shares of General Electric from $195.00 to $180.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. Barclays dropped their target price on shares of General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Bank of America reduced their target price on General Electric from $175.00 to $165.00 and set a “buy” rating for the company in a report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.07.

General Electric Trading Down 1.7 %

Shares of General Electric stock opened at $152.95 on Friday. The stock has a market capitalization of $167.22 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.05 and a beta of 1.29. General Electric has a 52-week low of $76.87 and a 52-week high of $158.68. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 1.18. The stock’s 50-day simple moving average is $159.15 and its 200 day simple moving average is $134.10.

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

General Electric Increases Dividend

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

Insider Activity

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

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.