Lau Associates LLC Invests $86,000 in General Electric (GE)
Lau Associates LLC acquired a new stake in shares of General Electric (NYSE:GE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,421 shares of the conglomerate’s stock, valued at approximately $86,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. River Road Asset Management LLC acquired a new stake in General Electric in the fourth quarter valued at approximately $139,000. Cigna Investments Inc. New boosted its stake in General Electric by 0.5% in the fourth quarter. Cigna Investments Inc. New now owns 254,223 shares of the conglomerate’s stock valued at $1,924,000 after acquiring an additional 1,209 shares in the last quarter. Congress Park Capital LLC boosted its stake in General Electric by 35.5% in the fourth quarter. Congress Park Capital LLC now owns 24,818 shares of the conglomerate’s stock valued at $188,000 after acquiring an additional 6,500 shares in the last quarter. Guardian Investment Management boosted its stake in General Electric by 29.9% in the fourth quarter. Guardian Investment Management now owns 183,025 shares of the conglomerate’s stock valued at $1,385,000 after acquiring an additional 42,100 shares in the last quarter. Finally, Cornell Pochily Investment Advisors Inc. boosted its stake in General Electric by 114.2% in the fourth quarter. Cornell Pochily Investment Advisors Inc. now owns 32,487 shares of the conglomerate’s stock valued at $246,000 after acquiring an additional 17,317 shares in the last quarter. Hedge funds and other institutional investors own 57.72% of the company’s stock.
NYSE:GE opened at $9.35 on Friday. General Electric has a 12 month low of $6.66 and a 12 month 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 cap of $81.18 billion, a PE ratio of 14.38, a P/E/G ratio of 3.97 and a beta of 0.99.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 25th. Investors of record on Monday, March 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.43%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In related news, insider Russell Stokes sold 49,904 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $9.93, for a total transaction of $495,546.72. Following the completion of the transaction, the insider now owns 265,986 shares of the company’s stock, valued at $2,641,240.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.13% of the company’s stock.
Several equities research analysts have weighed in on GE shares. ValuEngine upgraded shares of General Electric from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Credit Suisse Group set a $10.00 target price on shares of General Electric and gave the company a “neutral” rating in a research note on Thursday, January 3rd. William Blair restated a “buy” rating on shares of General Electric in a research note on Monday, January 14th. Bank of America restated a “hold” rating and issued a $11.00 target price on shares of General Electric in a research note on Thursday, January 31st. Finally, Argus upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus 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.
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