First Capital Advisors Group LLC. lowered its holdings in General Electric Company (NYSE:GE) by 22.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,831 shares of the conglomerate’s stock after selling 9,288 shares during the period. First Capital Advisors Group LLC.’s holdings in General Electric were worth $887,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of GE. Boston Partners boosted its holdings in General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Harris Associates L P raised its stake in General Electric by 26.4% during the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. First Trust Advisors LP raised its stake in General Electric by 417.3% during the second quarter. First Trust Advisors LP now owns 4,452,413 shares of the conglomerate’s stock valued at $120,260,000 after buying an additional 3,591,689 shares in the last quarter. UBS Oconnor LLC raised its stake in General Electric by 795.5% during the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after buying an additional 1,798,877 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in General Electric by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock valued at $783,469,000 after buying an additional 1,357,535 shares in the last quarter. 54.29% of the stock is owned by hedge funds and other institutional investors.
General Electric Company (GE) opened at $17.90 on Wednesday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market capitalization of $164,943.92, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. General Electric Company has a one year low of $17.46 and a one year high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. equities research analysts predict that General Electric Company will post 1.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s payout ratio is currently 120.00%.
In other news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was purchased at an average cost of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
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Several analysts have issued reports on GE shares. J P Morgan Chase & Co cut their price objective on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. UBS AG restated a “buy” rating and set a $31.00 price objective (down previously from $35.00) on shares of General Electric in a research note on Tuesday, July 25th. Bank of America Corporation upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Royal Bank Of Canada set a $25.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Citigroup Inc. set a $28.00 price objective on General Electric and gave the company a “buy” rating in a research note on Monday, October 23rd. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.02.
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