General Electric Company (GE) Stake Lowered by Rehmann Capital Advisory Group
Rehmann Capital Advisory Group decreased its stake in General Electric Company (NYSE:GE) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,171 shares of the conglomerate’s stock after selling 20,011 shares during the period. Rehmann Capital Advisory Group’s holdings in General Electric were worth $1,760,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of GE. Norges Bank bought a new position in General Electric during the fourth quarter valued at $2,383,193,000. Harris Associates L P raised its position in General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares during the period. Teachers Advisors LLC raised its position in General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares during the period. UBS Oconnor LLC raised its position in General Electric by 795.5% in the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after buying an additional 1,798,877 shares during the period. Finally, Nationwide Fund Advisors raised its position in General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after buying an additional 1,591,790 shares during the period. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company (GE) traded down 0.08% during mid-day trading on Friday, hitting $25.28. The stock had a trading volume of 8,801,365 shares. The firm’s 50-day moving average is $26.35 and its 200 day moving average is $28.56. The company has a market cap of $218.87 billion, a price-to-earnings ratio of 30.79 and a beta of 1.21. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $29.07 billion. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue was down 11.8% compared to the same quarter last year. Equities analysts anticipate that General Electric Company will post $1.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, June 15th. General Electric’s dividend payout ratio (DPR) is currently 118.52%.
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GE has been the topic of several recent analyst reports. UBS AG reaffirmed 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. Stifel Nicolaus boosted their target price on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 target price on General Electric and gave the stock a “sell” rating in a report on Monday, May 29th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $28.47 target price on the stock. in a report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 target price on General Electric and gave the stock a “neutral” rating in a report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $30.08.
In other news, Director William G. Beattie purchased 16,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $28.05 per share, with a total value of $448,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander Dimitrief purchased 1,845 shares of the company’s stock in a transaction on Monday, July 24th. The shares were purchased at an average cost of $25.54 per share, with a total value of $47,121.30. Following the purchase, the insider now owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 253,253 shares of company stock valued at $6,770,864. Corporate insiders own 0.36% of the company’s stock.
General Electric Company Profile
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