1st Global Advisors Inc. lowered its position in shares of General Electric Co. (NYSE:GE) by 0.9% during the second quarter, Holdings Channel reports. The firm owned 90,029 shares of the company’s stock after selling 811 shares during the period. General Electric comprises 0.4% of 1st Global Advisors Inc.’s holdings, making the stock its 29th largest position. 1st Global Advisors Inc.’s holdings in General Electric were worth $2,834,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock worth $153,380,000 after buying an additional 3,626,125 shares during the period. Nordea Investment Management AB raised its position in General Electric by 41.4% in the second quarter. Nordea Investment Management AB now owns 2,490,749 shares of the company’s stock worth $78,409,000 after buying an additional 729,800 shares during the period. First Quadrant L P CA raised its position in General Electric by 27.2% in the second quarter. First Quadrant L P CA now owns 2,344,064 shares of the company’s stock worth $73,791,000 after buying an additional 501,098 shares during the period. Baxter Bros Inc. acquired a new position in General Electric during the second quarter worth $11,436,000. Finally, Merriman Wealth Management LLC acquired a new position in General Electric during the second quarter worth $5,939,000. 55.81% of the stock is owned by institutional investors and hedge funds.
Shares of General Electric Co. (NYSE:GE) traded down 0.65% during midday trading on Friday, hitting $29.08. The stock had a trading volume of 37,840,132 shares. General Electric Co. has a one year low of $27.10 and a one year high of $33.00. The stock has a market cap of $260.59 billion, a PE ratio of 24.58 and a beta of 1.15. The firm has a 50 day moving average price of $30.31 and a 200 day moving average price of $30.77.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm had revenue of $33.49 million for the quarter, compared to analyst estimates of $31.76 billion. During the same quarter in the prior year, the company earned $0.31 EPS. General Electric’s revenue was up 14.6% on a year-over-year basis. On average, equities analysts forecast that General Electric Co. will post $1.50 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
A number of research analysts recently weighed in on GE shares. JPMorgan Chase & Co. set a $28.00 target price on shares of General Electric and gave the company a “sell” rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. set a $29.00 target price on shares of General Electric and gave the company a “neutral” rating in a report on Monday, June 27th. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $30.93 target price for the company in a report on Thursday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of General Electric in a research report on Monday, June 20th. Finally, William Blair restated an “outperform” rating and issued a $38.00 price target on shares of General Electric in a research report on Wednesday, June 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.81.
In other news, Chairman Jeffrey R. Immelt bought 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were purchased at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the purchase, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.
General Electric Company Profile
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