General Electric Company (GE) Position Cut by Private Capital Advisors Inc.
Private Capital Advisors Inc. trimmed its position in General Electric Company (NYSE:GE) by 91.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,800 shares of the conglomerate’s stock after selling 211,862 shares during the quarter. Private Capital Advisors Inc.’s holdings in General Electric were worth $535,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in GE. Harris Associates L P lifted its holdings in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock worth $1,382,009,000 after acquiring an additional 9,681,420 shares during the last quarter. UBS Oconnor LLC boosted its stake in shares of General Electric by 795.5% in the 1st quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after purchasing an additional 1,798,877 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of General Electric by 41.6% in the 1st quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after purchasing an additional 1,591,790 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of General Electric by 134.7% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 2,151,496 shares of the conglomerate’s stock valued at $64,118,000 after purchasing an additional 1,234,776 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of General Electric in the 1st quarter valued at approximately $35,777,000. 54.71% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on GE shares. J P Morgan Chase & Co set a $22.00 target price on shares of General Electric and gave the company a “sell” rating in a research report on Monday, July 24th. Vetr downgraded shares of General Electric from a “buy” rating to a “hold” rating and set a $29.71 price target for the company. in a report on Monday, June 12th. Morgan Stanley reiterated an “equal weight” rating and set a $27.00 price target on shares of General Electric in a report on Monday, July 17th. CIBC reiterated a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of General Electric in a research note on Wednesday, June 14th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. General Electric has an average rating of “Hold” and a consensus price target of $28.57.
General Electric Company (NYSE:GE) traded down 1.1460% during midday trading on Wednesday, reaching $24.5158. 16,916,190 shares of the company’s stock traded hands. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38. The stock has a market cap of $212.26 billion, a P/E ratio of 29.8609 and a beta of 1.19. The company’s 50-day moving average price is $24.48 and its 200-day moving average price is $27.08.
General Electric (NYSE:GE) last issued 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 return on equity of 14.59% and a net margin of 6.45%. The firm had revenue of $29.56 billion for the quarter, compared to analyst estimates of $29.07 billion. During the same period last year, the company earned $0.51 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that General Electric Company will post $1.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Monday, September 18th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.87%. General Electric’s dividend payout ratio is presently 118.52%.
In related news, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $24.56 per share, with a total value of $2,456,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total transaction of $633,375.45. Following the completion of the sale, the insider now owns 175,717 shares of the company’s stock, valued at $4,507,141.05. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by corporate insiders.
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