Crawford Investment Counsel Inc. Buys 1,760 Shares of General Electric (NYSE:GE)

Crawford Investment Counsel Inc. lifted its stake in shares of General Electric (NYSE:GEGet Rating) by 46.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,525 shares of the conglomerate’s stock after purchasing an additional 1,760 shares during the quarter. Crawford Investment Counsel Inc.’s holdings in General Electric were worth $506,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GE. Capital Research Global Investors grew its stake in shares of General Electric by 39.4% in the fourth quarter. Capital Research Global Investors now owns 53,968,728 shares of the conglomerate’s stock worth $5,098,427,000 after purchasing an additional 15,251,142 shares during the last quarter. Norges Bank purchased a new position in shares of General Electric during the fourth quarter valued at approximately $698,826,000. Adage Capital Partners GP L.L.C. increased its stake in shares of General Electric by 144.2% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 4,766,164 shares of the conglomerate’s stock valued at $450,260,000 after buying an additional 2,814,259 shares during the period. Vanguard Group Inc. lifted its stake in General Electric by 2.4% in the first quarter. Vanguard Group Inc. now owns 84,152,605 shares of the conglomerate’s stock worth $7,699,963,000 after acquiring an additional 1,937,915 shares during the period. Finally, Eaton Vance Management bought a new stake in General Electric in the fourth quarter valued at $77,968,000. 67.09% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of GE opened at $74.04 on Monday. The company has a market capitalization of $81.19 billion, a P/E ratio of -17.46, a price-to-earnings-growth ratio of 3.86 and a beta of 1.09. General Electric has a twelve month low of $59.93 and a twelve month high of $116.17. The company has a quick ratio of 0.80, a current ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50 day moving average of $71.83 and a 200 day moving average of $78.39.

General Electric (NYSE:GEGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.40. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The firm had revenue of $18.65 billion during the quarter, compared to analysts’ expectations of $17.90 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that General Electric will post 2.74 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 26th. General Electric’s payout ratio is presently -7.55%.

Analysts Set New Price Targets

GE has been the subject of several research reports. Barclays decreased their price objective on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating for the company in a report on Friday, July 8th. Wells Fargo & Company upped their target price on General Electric to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. The Goldman Sachs Group decreased their target price on General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Credit Suisse Group dropped their price target on General Electric from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on General Electric from $90.00 to $88.00 in a report on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.15.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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