First Allied Advisory Services Inc. decreased its stake in shares of General Electric (NYSE:GE) by 7.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 258,501 shares of the conglomerate’s stock after selling 21,775 shares during the period. First Allied Advisory Services Inc.’s holdings in General Electric were worth $6,256,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of General Electric by 0.6% in the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock worth $16,212,445,000 after acquiring an additional 3,297,890 shares in the last quarter. BlackRock Inc. increased its position in shares of General Electric by 3.9% in the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital World Investors increased its position in shares of General Electric by 8.6% in the second quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock worth $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Capital Research Global Investors increased its position in shares of General Electric by 18.6% in the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of General Electric by 43.8% in the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Alexander Dimitrief acquired 2,689 shares of General Electric stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the purchase, the insider now directly owns 81,185 shares of the company’s stock, valued at approximately $1,311,949.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.
General Electric (NYSE:GE) last posted its quarterly earnings data on Wednesday, January 24th. The conglomerate reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). General Electric had a negative net margin of 4.74% and a positive return on equity of 11.60%. The company had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue was down 5.1% compared to the same quarter last year. equities research analysts predict that General Electric will post 0.99 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, February 23rd. This represents a $0.48 dividend on an annualized basis and a yield of 3.21%. General Electric’s dividend payout ratio (DPR) is -66.67%.
Several equities research analysts have recently issued reports on GE shares. JPMorgan Chase & Co. reissued a “sell” rating and issued a $16.00 price objective (down previously from $17.00) on shares of General Electric in a research report on Monday, January 8th. Goldman Sachs Group set a $22.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a research report on Tuesday, November 14th. Citigroup dropped their price objective on shares of General Electric from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Morningstar set a $23.50 price objective on shares of General Electric and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Finally, Bank of America lowered shares of General Electric from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Monday, January 22nd. Five analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $18.44.
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General Electric Company Profile
General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.
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