Nippon Life Global Investors Americas Inc. Sells 71,032 Shares of General Electric Company (NYSE:GE)
Nippon Life Global Investors Americas Inc. decreased its position in General Electric Company (NYSE:GE) by 15.0% during the first quarter, Holdings Channel reports. The fund owned 402,050 shares of the conglomerate’s stock after selling 71,032 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in General Electric were worth $11,981,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in General Electric during the fourth quarter worth about $2,383,193,000. Harris Associates L P increased 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 worth $1,382,009,000 after buying an additional 9,681,420 shares during the last quarter. Teachers Advisors LLC increased 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 worth $577,734,000 after buying an additional 2,592,455 shares during the last quarter. Nationwide Fund Advisors increased 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 worth $161,524,000 after buying an additional 1,591,790 shares during the last quarter. Finally, Dodge & Cox purchased a new position in General Electric during the fourth quarter worth about $46,414,000. 54.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric Company (GE) traded down 0.40% on Friday, hitting $25.20. The stock had a trading volume of 19,217,278 shares. The firm has a market cap of $218.18 billion, a PE ratio of 30.69 and a beta of 1.21. The firm’s 50-day moving average price is $26.28 and its 200 day moving average price is $28.52. General Electric Company has a 52-week low of $25.19 and a 52-week 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. On average, equities research analysts predict that General Electric Company will post $1.57 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.81%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
GE has been the topic of a number of recent research reports. 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. Stifel Nicolaus increased their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Deutsche Bank AG set a $24.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, May 29th. Vetr downgraded General Electric from a “buy” rating to a “hold” rating and set a $28.47 price target on the stock. in a research report on Thursday, May 11th. Finally, Goldman Sachs Group, Inc. (The) set a $29.00 price target on General Electric and gave the stock a “neutral” rating in a research report on Friday, July 7th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $30.08.
In other news, Chairman Jeffrey R. Immelt bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $28.07 per share, with a total value of $2,807,000.00. Following the transaction, the chairman now directly owns 2,561,926 shares in the company, valued at $71,913,262.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William G. Beattie bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $27.70 per share, with a total value of $110,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 253,253 shares of company stock valued at $6,770,864. Insiders own 0.36% of the company’s stock.
About General Electric
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