MML Investors Services LLC trimmed its holdings in General Electric (NYSE:GE) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 369,710 shares of the conglomerate’s stock after selling 11,186 shares during the period. MML Investors Services LLC’s holdings in General Electric were worth $3,882,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ashburton Jersey Ltd purchased a new position in General Electric in the 2nd quarter valued at about $25,000. Employers Holdings Inc. purchased a new position in General Electric in the 2nd quarter valued at about $28,000. Fusion Family Wealth LLC lifted its holdings in General Electric by 10,516.0% in the 2nd quarter. Fusion Family Wealth LLC now owns 2,654 shares of the conglomerate’s stock valued at $28,000 after purchasing an additional 2,629 shares in the last quarter. Arbor Wealth Management LLC purchased a new position in General Electric in the 4th quarter valued at about $30,000. Finally, Manchester Financial Inc. purchased a new position in General Electric in the 2nd quarter valued at about $30,000. 59.32% of the stock is currently owned by hedge funds and other institutional investors.
GE traded up $0.18 on Friday, reaching $9.44. 1,118,592 shares of the company’s stock were exchanged, compared to its average volume of 96,344,560. The company’s 50 day moving average is $9.06 and its 200-day moving average is $9.75. The company has a market cap of $79.77 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 2.04 and a beta of 1.09. General Electric has a twelve month low of $6.66 and a twelve month high of $13.78. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.44 and a current ratio of 1.73.
General Electric (NYSE:GE) last posted its earnings results on Wednesday, July 31st. The conglomerate reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.05. The firm had revenue of $28.83 billion during the quarter, compared to the consensus estimate of $28.83 billion. General Electric had a negative net margin of 15.38% and a positive return on equity of 10.64%. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 EPS. Sell-side analysts forecast that General Electric will post 0.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Friday, September 13th. General Electric’s dividend payout ratio (DPR) is presently 6.15%.
In other General Electric news, VP Thomas S. Timko bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average price of $8.83 per share, with a total value of $88,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Leslie Seidman bought 6,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $7.80 per share, with a total value of $50,700.00. Following the transaction, the director now owns 6,500 shares in the company, valued at approximately $50,700. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 801,068 shares of company stock valued at $6,954,745. Corporate insiders own 1.13% of the company’s stock.
Several brokerages have recently weighed in on GE. William Blair reiterated a “buy” rating on shares of General Electric in a report on Friday, August 16th. Credit Suisse Group reiterated a “neutral” rating and set a $38.00 price objective on shares of General Electric in a report on Friday. Morgan Stanley began coverage on shares of General Electric in a report on Thursday, September 5th. They set an “equal weight” rating and a $10.00 price objective on the stock. ValuEngine lowered shares of General Electric from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, Citigroup set a $14.00 price objective on shares of General Electric and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $13.08.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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