Dupont Capital Management Corp Decreases Stake in General Electric Company (GE)

Dupont Capital Management Corp lessened its position in General Electric Company (NYSE:GE) by 30.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,770 shares of the conglomerate’s stock after selling 58,941 shares during the quarter. Dupont Capital Management Corp’s holdings in General Electric were worth $3,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GE. Harris Associates L P lifted its position 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 worth $1,382,009,000 after buying an additional 9,681,420 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position 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 worth $783,469,000 after buying an additional 1,357,535 shares in the last quarter. APG Asset Management N.V. lifted its position in General Electric by 0.9% during the second quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock worth $477,629,000 after buying an additional 159,600 shares in the last quarter. Boston Partners lifted its position in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after buying an additional 14,050,581 shares in the last quarter. Finally, US Bancorp DE lifted its position in General Electric by 2.2% during the second quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock worth $309,996,000 after buying an additional 243,034 shares in the last quarter. Institutional investors and hedge funds own 54.75% of the company’s stock.

A number of equities analysts recently commented on GE shares. Goldman Sachs Group, Inc. (The) set a $27.00 price objective on General Electric and gave the stock a “neutral” rating in a research report on Monday, July 24th. J P Morgan Chase & Co set a $22.00 price objective on General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and set a $26.00 price objective (down previously from $27.00) on shares of General Electric in a research report on Monday, July 24th. Citigroup Inc. reiterated a “buy” rating and set a $31.00 price objective (down previously from $34.00) on shares of General Electric in a research report on Monday, July 24th. Finally, Stifel Nicolaus reduced their price objective on General Electric from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, July 25th. Six equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $24.84.

TRADEMARK VIOLATION NOTICE: This story was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://sportsperspectives.com/2017/11/21/dupont-capital-management-corp-decreases-stake-in-general-electric-company-ge.html.

In related news, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares of the company’s stock, valued at approximately $10,513,964.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 120,500 shares of company stock valued at $2,183,220 over the last three months. 0.36% of the stock is currently owned by insiders.

Shares of General Electric Company (NYSE GE) opened at $17.98 on Tuesday. General Electric Company has a one year low of $17.46 and a one year high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $156,310.00, a price-to-earnings ratio of 14.69, a PEG ratio of 1.99 and a beta of 1.11.

General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion during the quarter, compared to analyst estimates of $32.51 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. sell-side analysts predict that General Electric Company will post 1.06 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Monday, September 18th were paid a dividend of $0.24 per share. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a yield of 5.34%. General Electric’s payout ratio is 111.63%.

General Electric Company Profile

Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).

Institutional Ownership by Quarter for General Electric (NYSE:GE)

Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply