V Wealth Advisors LLC cut its stake in General Electric (NYSE:GE) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,359 shares of the conglomerate’s stock after selling 4,791 shares during the quarter. V Wealth Advisors LLC’s holdings in General Electric were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of General Electric by 6.1% in the first quarter. Geode Capital Management LLC now owns 127,442,619 shares of the conglomerate’s stock worth $1,009,780,000 after acquiring an additional 7,346,879 shares during the last quarter. Pzena Investment Management LLC increased its position in General Electric by 0.4% during the first quarter. Pzena Investment Management LLC now owns 64,569,513 shares of the conglomerate’s stock worth $512,682,000 after buying an additional 266,399 shares during the last quarter. Legal & General Group Plc increased its position in General Electric by 2.4% during the first quarter. Legal & General Group Plc now owns 55,992,720 shares of the conglomerate’s stock worth $446,288,000 after buying an additional 1,313,273 shares during the last quarter. Franklin Resources Inc. increased its position in General Electric by 1.0% during the first quarter. Franklin Resources Inc. now owns 38,612,619 shares of the conglomerate’s stock worth $306,585,000 after buying an additional 367,555 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in General Electric by 4.8% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 35,325,918 shares of the conglomerate’s stock worth $280,488,000 after buying an additional 1,630,371 shares during the last quarter. 61.93% of the stock is currently owned by institutional investors and hedge funds.
GE has been the topic of several analyst reports. Argus lowered their target price on shares of General Electric from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 30th. Citigroup decreased their price target on shares of General Electric from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Zacks Investment Research cut shares of General Electric from a “hold” rating to a “sell” rating and set a $7.50 price target for the company. in a report on Friday, June 12th. JPMorgan Chase & Co. restated a “hold” rating and set a $5.00 price target on shares of General Electric in a report on Thursday, April 30th. Finally, UBS Group restated a “buy” rating and set a $7.50 price target on shares of General Electric in a report on Friday, May 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.02.
Shares of GE opened at $6.07 on Friday. The stock has a market cap of $53.09 billion, a price-to-earnings ratio of 23.35 and a beta of 0.95. The company has a quick ratio of 1.69, a current ratio of 2.21 and a debt-to-equity ratio of 2.05. General Electric has a 12 month low of $5.48 and a 12 month high of $13.26. The company has a 50-day moving average price of $6.90 and a two-hundred day moving average price of $8.33.
General Electric (NYSE:GE) last announced its quarterly earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $17.75 billion for the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a positive return on equity of 7.94% and a negative net margin of 5.10%. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. Equities research analysts expect that General Electric will post -0.01 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 27th. Shareholders of record on Monday, June 29th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Friday, June 26th. General Electric’s dividend payout ratio is 6.15%.
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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