Aperio Group LLC Sells 101,146 Shares of General Electric Company (GE)
Aperio Group LLC lowered its stake in shares of General Electric Company (NYSE:GE) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,264,484 shares of the conglomerate’s stock after selling 101,146 shares during the period. General Electric makes up about 0.5% of Aperio Group LLC’s holdings, making the stock its 29th largest position. Aperio Group LLC’s holdings in General Electric were worth $88,174,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in GE. Ullmann Financial Group Inc. purchased a new stake in shares of General Electric during the first quarter valued at $106,000. Feltz Wealth PLAN Inc. purchased a new stake in shares of General Electric during the first quarter valued at $114,000. PHH Investments Ltd. boosted its stake in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. Heritage Way Advisors LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $205,000. Finally, Cheviot Value Management LLC purchased a new stake in shares of General Electric during the fourth quarter valued at $208,000. 54.29% of the stock is owned by institutional investors and hedge funds.
General Electric Company (GE) traded down 0.89% during mid-day trading on Thursday, reaching $25.48. 11,798,666 shares of the company’s stock were exchanged. The firm has a market capitalization of $220.60 billion, a P/E ratio of 31.04 and a beta of 1.21. The company’s 50-day moving average is $26.42 and its 200 day moving average is $28.58. General Electric Company has a one year low of $25.26 and a one year high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings data on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The company had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. During the same period in the prior year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
Several equities research analysts have weighed in on GE shares. Argus dropped their price target on shares of General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Vetr raised shares of General Electric from a “hold” rating to a “buy” rating and set a $30.43 price target for the company in a research report on Thursday, April 27th. Stifel Nicolaus increased their price target on shares of General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Citigroup Inc. reissued a “buy” rating and set a $34.00 price target (down previously from $36.00) on shares of General Electric in a research report on Monday, July 10th. Finally, UBS AG reissued a “buy” rating and set a $31.00 price target (down previously from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $30.08.
In other news, Chairman Jeffrey R. Immelt purchased 100,000 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the completion of the transaction, the chairman now owns 2,561,926 shares in the company, valued at approximately $71,913,262.82. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William G. Beattie purchased 16,000 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $28.05 per share, with a total value of $448,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 253,253 shares of company stock valued at $6,770,864. Insiders own 0.36% of the company’s stock.
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