Pacer Advisors Inc. Reduces Position in General Electric (NYSE:GE)

Pacer Advisors Inc. decreased its holdings in shares of General Electric (NYSE:GEGet Rating) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,040 shares of the conglomerate’s stock after selling 584 shares during the quarter. Pacer Advisors Inc.’s holdings in General Electric were worth $5,494,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GE. Missouri Trust & Investment Co purchased a new stake in shares of General Electric in the fourth quarter valued at about $27,000. Benjamin Edwards Inc. grew its holdings in shares of General Electric by 325.0% in the fourth quarter. Benjamin Edwards Inc. now owns 289 shares of the conglomerate’s stock valued at $27,000 after purchasing an additional 221 shares during the period. Covestor Ltd purchased a new stake in shares of General Electric in the fourth quarter valued at about $31,000. FSB Premier Wealth Management Inc. purchased a new stake in shares of General Electric in the fourth quarter valued at about $32,000. Finally, Emerson Wealth LLC purchased a new stake in shares of General Electric in the fourth quarter valued at about $32,000. 67.37% of the stock is owned by institutional investors and hedge funds.

In other news, SVP John S. Slattery acquired 3,601 shares of the stock in a transaction that occurred on Monday, May 2nd. The shares were purchased at an average cost of $75.00 per share, for a total transaction of $270,075.00. Following the transaction, the senior vice president now directly owns 3,601 shares in the company, valued at approximately $270,075. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Electric Co General sold 72,025,826 shares of General Electric stock in a transaction on Friday, May 6th. The shares were sold at an average price of $34.45, for a total transaction of $2,481,289,705.70. Following the completion of the transaction, the insider now owns 3,931,363 shares in the company, valued at $135,435,455.35. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 69,801 shares of company stock worth $5,207,705. 0.70% of the stock is currently owned by insiders.

Shares of GE opened at $64.54 on Thursday. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $71.04 billion, a PE ratio of -14.09, a price-to-earnings-growth ratio of 3.34 and a beta of 1.01. The company’s 50 day simple moving average is $77.05 and its 200-day simple moving average is $88.76. General Electric has a 12-month low of $64.17 and a 12-month high of $116.17.

General Electric (NYSE:GEGet Rating) last announced its earnings results on Tuesday, April 26th. The conglomerate reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $17.04 billion for the quarter, compared to analyst estimates of $16.92 billion. General Electric had a negative net margin of 6.43% and a positive return on equity of 6.41%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. As a group, equities research analysts forecast that General Electric will post 2.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 25th. Stockholders of record on Tuesday, June 28th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, June 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.50%. General Electric’s dividend payout ratio (DPR) is presently -6.99%.

Several research analysts have weighed in on the stock. Credit Suisse Group lowered their target price on shares of General Electric from $113.00 to $102.00 in a research note on Wednesday, April 27th. Bank of America lowered their target price on shares of General Electric from $132.00 to $120.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of General Electric from $118.00 to $107.00 in a research note on Wednesday, April 27th. Royal Bank of Canada increased their target price on shares of General Electric from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, March 11th. Finally, StockNews.com assumed coverage on shares of General Electric in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Electric currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.36.

General Electric Profile (Get Rating)

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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