FormulaFolio Investments LLC decreased its holdings in shares of General Electric (NYSE:GE) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,947 shares of the conglomerate’s stock after selling 2,036 shares during the quarter. FormulaFolio Investments LLC’s holdings in General Electric were worth $232,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Telemus Capital LLC grew its position in General Electric by 8.5% in the 1st quarter. Telemus Capital LLC now owns 17,868 shares of the conglomerate’s stock worth $117,000 after purchasing an additional 1,393 shares during the last quarter. Lincoln Capital LLC lifted its stake in shares of General Electric by 3.2% in the second quarter. Lincoln Capital LLC now owns 46,046 shares of the conglomerate’s stock valued at $314,000 after buying an additional 1,446 shares during the period. NorthRock Partners LLC grew its position in General Electric by 6.4% during the second quarter. NorthRock Partners LLC now owns 25,353 shares of the conglomerate’s stock worth $173,000 after buying an additional 1,524 shares in the last quarter. Assetmark Inc. increased its stake in General Electric by 5.1% during the second quarter. Assetmark Inc. now owns 31,957 shares of the conglomerate’s stock valued at $218,000 after acquiring an additional 1,538 shares during the period. Finally, Private Asset Management Inc. raised its holdings in General Electric by 4.3% in the 2nd quarter. Private Asset Management Inc. now owns 38,234 shares of the conglomerate’s stock valued at $261,000 after acquiring an additional 1,580 shares in the last quarter. 59.95% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the company. TheStreet upgraded General Electric from a “d+” rating to a “c-” rating in a research report on Tuesday, June 9th. ValuEngine upgraded shares of General Electric from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. restated a “fair value” rating on shares of General Electric in a research note on Monday, August 31st. Oppenheimer reaffirmed a “hold” rating on shares of General Electric in a report on Monday, August 3rd. Finally, UBS Group reissued a “buy” rating and issued a $7.50 target price on shares of General Electric in a research note on Friday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. General Electric currently has a consensus rating of “Hold” and a consensus target price of $9.02.
In related news, Director Edward P. Garden sold 3,264,481 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $6.09, for a total value of $19,880,689.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Trian Fund Management, L.P. sold 15,569,158 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $6.14, for a total value of $95,594,630.12. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.
Shares of NYSE:GE traded up $0.17 during trading on Wednesday, reaching $6.27. The stock had a trading volume of 2,845,985 shares, compared to its average volume of 94,355,742. The stock has a market capitalization of $53.40 billion, a PE ratio of -10.60 and a beta of 0.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.95. General Electric has a 52 week low of $5.48 and a 52 week high of $13.26. The business’s 50-day moving average price is $6.39 and its 200 day moving average price is $6.97.
General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.06). The business had revenue of $17.75 billion for the quarter, compared to analyst estimates of $17.27 billion. General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The company’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 earnings per share. Analysts forecast that General Electric will post -0.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Monday, September 28th will be issued a $0.01 dividend. The ex-dividend date is Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.64%. General Electric’s dividend payout ratio is 6.15%.
General Electric Company Profile
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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