Russell Investments Group Ltd. Reduces Stock Holdings in General Electric (NYSE:GE)

Russell Investments Group Ltd. decreased its holdings in General Electric (NYSE:GE) by 16.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 379,959 shares of the conglomerate’s stock after selling 72,357 shares during the quarter. Russell Investments Group Ltd.’s holdings in General Electric were worth $41,683,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its position in General Electric by 5.7% during the first quarter. FMR LLC now owns 63,795,835 shares of the conglomerate’s stock valued at $6,098,882,000 after buying an additional 3,463,502 shares during the period. State Street Corp lifted its position in General Electric by 17.3% during the first quarter. State Street Corp now owns 48,490,012 shares of the conglomerate’s stock valued at $4,639,533,000 after buying an additional 7,157,356 shares during the period. TCI Fund Management Ltd. purchased a new position in General Electric during the first quarter valued at $2,496,379,000. Geode Capital Management LLC lifted its position in General Electric by 1.7% during the first quarter. Geode Capital Management LLC now owns 19,272,027 shares of the conglomerate’s stock valued at $1,837,514,000 after buying an additional 319,196 shares during the period. Finally, Moneta Group Investment Advisors LLC raised its position in shares of General Electric by 122,242.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,438,063 shares of the conglomerate’s stock worth $878,644,000 after purchasing an additional 13,427,079 shares during the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

General Electric Trading Up 0.8 %

Shares of General Electric stock opened at $119.93 on Friday. General Electric has a 1-year low of $59.57 and a 1-year high of $120.08. The company’s fifty day simple moving average is $111.70 and its 200-day simple moving average is $109.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.17 and a quick ratio of 0.82. 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.

General Electric (NYSE:GE) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. General Electric had a return on equity of 11.10% and a net margin of 14.38%. The business had revenue of $17.35 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the previous year, the company posted $0.35 earnings per share. General Electric’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities analysts anticipate that General Electric will post 2.65 earnings per share for the current year.

General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Tuesday, September 26th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.27%. The ex-dividend date was Monday, September 25th. General Electric’s dividend payout ratio is currently 3.61%.

Analyst Ratings Changes

A number of analysts have weighed in on GE shares. Barclays raised their price objective on shares of General Electric from $131.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. The Goldman Sachs Group increased their target price on General Electric from $121.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. Oppenheimer cut General Electric from an “outperform” rating to a “market perform” rating in a research note on Monday, July 31st. Citigroup increased their price objective on General Electric from $126.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on General Electric in a research report on Wednesday, September 27th. They issued a “buy” rating and a $141.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.93.

About General Electric

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.