EP Wealth Advisors LLC Sells 10,551 Shares of General Electric (NYSE:GE)

EP Wealth Advisors LLC lessened its stake in shares of General Electric (NYSE:GE – Get Rating) by 49.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 10,631 shares of the conglomerate’s stock after selling 10,551 shares during the period. EP Wealth Advisors LLC’s holdings in General Electric were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of General Electric by 0.7% during the third quarter. Vanguard Group Inc. now owns 86,108,801 shares of the conglomerate’s stock worth $5,330,997,000 after buying an additional 625,757 shares during the last quarter. FMR LLC grew its stake in shares of General Electric by 8.4% during the second quarter. FMR LLC now owns 66,963,503 shares of the conglomerate’s stock worth $4,263,567,000 after buying an additional 5,197,786 shares during the last quarter. Dodge & Cox grew its stake in shares of General Electric by 178.6% during the second quarter. Dodge & Cox now owns 28,966,680 shares of the conglomerate’s stock worth $1,844,309,000 after buying an additional 18,569,368 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of General Electric by 5.6% during the third quarter. Pzena Investment Management LLC now owns 13,761,615 shares of the conglomerate’s stock worth $851,982,000 after buying an additional 725,871 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of General Electric by 1.2% in the second quarter. Northern Trust Corp now owns 10,668,591 shares of the conglomerate’s stock worth $679,270,000 after purchasing an additional 127,322 shares during the last quarter. Institutional investors own 70.12% of the company’s stock.

General Electric Price Performance

Shares of NYSE GE opened at $90.29 on Friday. The firm’s 50-day moving average price is $83.12 and its 200-day moving average price is $78.73. General Electric has a 1-year low of $46.55 and a 1-year high of $94.94. The firm has a market capitalization of $98.35 billion, a P/E ratio of -3,009.67, a P/E/G ratio of 6.62 and a beta of 1.25. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.76.

General Electric (NYSE:GE – Get Rating) last announced its quarterly earnings data on Tuesday, January 24th. The conglomerate reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. General Electric had a net margin of 0.29% and a return on equity of 8.47%. The firm had revenue of $21.79 billion for the quarter, compared to analyst estimates of $22.11 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that General Electric will post 1.97 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Investors of record on Tuesday, March 7th will be issued a $0.08 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.35%. General Electric’s dividend payout ratio is presently -1,066.67%.

Wall Street Analysts Forecast Growth

GE has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on shares of General Electric from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 25th. Bank of America boosted their price objective on shares of General Electric from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, March 6th. Barclays boosted their price objective on shares of General Electric from $81.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, January 26th. StockNews.com initiated coverage on shares of General Electric in a research note on Friday, March 10th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group boosted their price objective on shares of General Electric from $84.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, March 13th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, General Electric has an average rating of “Moderate Buy” and an average price target of $93.14.

General Electric Profile

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General Electric Co engages in the provision of commercial and military aircraft engines and systems, wind, and other renewable energy generation equipment and grid solutions, and gas, steam, nuclear, and other power generation equipment. It operates through the following segments: Aviation, Healthcare, Renewable Energy, and Power.