First National Trust Co lessened its position in General Electric (NYSE:GE) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,744 shares of the conglomerate’s stock after selling 75,937 shares during the quarter. First National Trust Co’s holdings in General Electric were worth $1,508,000 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. The Manufacturers Life Insurance Company lifted its position in shares of General Electric by 167.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 62,730,118 shares of the conglomerate’s stock valued at $1,094,640,000 after acquiring an additional 39,268,675 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of General Electric by 11.0% in the first quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock valued at $2,762,834,000 after acquiring an additional 20,275,020 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of General Electric by 19.6% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 64,755,611 shares of the conglomerate’s stock valued at $1,129,985,000 after acquiring an additional 10,631,247 shares in the last quarter. BlackRock Inc. lifted its position in shares of General Electric by 1.5% in the fourth quarter. BlackRock Inc. now owns 531,732,530 shares of the conglomerate’s stock valued at $9,278,731,000 after acquiring an additional 7,675,642 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of General Electric by 88.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 11,941,772 shares of the conglomerate’s stock valued at $160,975,000 after acquiring an additional 5,607,494 shares in the last quarter. Institutional investors and hedge funds own 53.69% of the company’s stock.

In other General Electric news, Director H Lawrence Culp, Jr. bought 191,000 shares of General Electric stock in a transaction on Tuesday, July 24th. The shares were bought at an average price of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by insiders.

Shares of General Electric stock opened at $11.53 on Friday. General Electric has a one year low of $11.21 and a one year high of $24.89. The company has a market cap of $97.85 billion, a P/E ratio of 10.98, a P/E/G ratio of 2.13 and a beta of 0.96. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39.

General Electric (NYSE:GE) last posted its earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The company had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the previous year, the business earned $0.21 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. research analysts predict that General Electric will post 0.96 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be given a $0.12 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a yield of 4.16%. General Electric’s dividend payout ratio is currently 45.71%.

Several equities analysts have recently weighed in on the company. Independent Research restated a “neutral” rating and issued a $13.30 target price on shares of General Electric in a research report on Wednesday. Bank of America set a $16.00 target price on General Electric and gave the company a “hold” rating in a research report on Monday. Gabelli restated a “buy” rating and issued a $21.00 target price on shares of General Electric in a research report on Monday. Zacks Investment Research downgraded General Electric from a “hold” rating to a “sell” rating in a research report on Monday. Finally, JPMorgan Chase & Co. reiterated a “sell” rating and set a $10.00 price objective (down previously from $11.00) on shares of General Electric in a research report on Thursday, September 20th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $16.09.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

See Also: Return on Equity (ROE)

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

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