Great Lakes Advisors LLC reduced its position in shares of General Electric (NYSE:GE – Free Report) by 35.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,052 shares of the conglomerate’s stock after selling 151,086 shares during the period. Great Lakes Advisors LLC’s holdings in General Electric were worth $30,654,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Ruffer LLP increased its stake in General Electric by 138.7% during the 1st quarter. Ruffer LLP now owns 379,002 shares of the conglomerate’s stock worth $36,227,000 after buying an additional 220,210 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of General Electric by 62.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 7,091 shares of the conglomerate’s stock valued at $779,000 after purchasing an additional 2,724 shares in the last quarter. AE Wealth Management LLC grew its position in shares of General Electric by 85.7% in the second quarter. AE Wealth Management LLC now owns 59,531 shares of the conglomerate’s stock valued at $6,540,000 after purchasing an additional 27,468 shares in the last quarter. Brighton Jones LLC grew its position in shares of General Electric by 11.3% in the second quarter. Brighton Jones LLC now owns 8,231 shares of the conglomerate’s stock valued at $904,000 after purchasing an additional 837 shares in the last quarter. Finally, MAI Capital Management grew its position in shares of General Electric by 33.9% in the first quarter. MAI Capital Management now owns 14,859 shares of the conglomerate’s stock valued at $1,421,000 after purchasing an additional 3,760 shares in the last quarter. 74.83% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GE has been the subject of a number of analyst reports. Argus upped their price target on General Electric from $112.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Deutsche Bank Aktiengesellschaft started coverage on General Electric in a research report on Wednesday, September 27th. They issued a “buy” rating and a $141.00 price objective for the company. The Goldman Sachs Group upped their price target on General Electric from $121.00 to $133.00 and gave the stock a “buy” rating in a research note on Tuesday, July 25th. StockNews.com initiated coverage on General Electric in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, TheStreet cut General Electric from a “b-” rating to a “c” rating in a research note on Tuesday, October 24th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.93.
General Electric Stock Up 0.8 %
Shares of NYSE GE opened at $119.93 on Friday. General Electric has a 52-week low of $59.57 and a 52-week high of $120.08. The firm has a fifty day moving average of $111.70 and a 200-day moving average of $109.46. The stock has a market capitalization of $130.53 billion, a PE ratio of 13.52, a P/E/G ratio of 3.28 and a beta of 1.26. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.65.
General Electric (NYSE:GE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $17.35 billion for the quarter, compared to analyst estimates of $15.46 billion. General Electric had a net margin of 14.38% and a return on equity of 11.10%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. On average, analysts anticipate that General Electric will post 2.65 EPS for the current year.
General Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Tuesday, September 26th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Monday, September 25th. General Electric’s dividend payout ratio is 3.61%.
General Electric Profile
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It 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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