QS Investors LLC Acquires 168,897 Shares of General Electric Company (GE)
QS Investors LLC increased its holdings in shares of General Electric Company (NYSE:GE) by 25.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 843,408 shares of the conglomerate’s stock after purchasing an additional 168,897 shares during the period. QS Investors LLC owned approximately 1.24% of General Electric worth $22,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in General Electric by 0.6% during the second quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after buying an additional 3,297,890 shares during the period. BlackRock Inc. grew its position in General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after buying an additional 19,422,516 shares during the period. Franklin Resources Inc. grew its position in General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after buying an additional 23,764,129 shares during the period. Trian Fund Management L.P. grew its position in General Electric by 2.7% during the second quarter. Trian Fund Management L.P. now owns 70,851,055 shares of the conglomerate’s stock valued at $1,913,687,000 after buying an additional 1,874,000 shares during the period. Finally, Harris Associates L P grew its position in General Electric by 26.4% during 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. 55.74% of the stock is owned by hedge funds and other institutional investors.
General Electric Company (GE) traded down $0.05 on Monday, reaching $17.67. 22,361,785 shares of the company were exchanged, compared to its average volume of 45,194,363. The firm has a market capitalization of $153,582.61, a price-to-earnings ratio of 14.28, a PEG ratio of 1.92 and a beta of 1.06. General Electric Company has a 52-week low of $17.46 and a 52-week high of $32.38. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to analyst estimates of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. equities analysts anticipate that General Electric Company will post 1.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a yield of 2.72%. General Electric’s payout ratio is presently 120.00%.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were acquired at an average price of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Insiders have purchased 120,500 shares of company stock worth $2,183,220 over the last 90 days. 0.36% of the stock is currently owned by company insiders.
Several analysts recently commented on the stock. Stifel Nicolaus restated a “hold” rating and set a $18.00 price target on shares of General Electric in a research report on Monday. Goldman Sachs Group set a $19.00 target price on shares of General Electric and gave the company a “neutral” rating in a research report on Thursday, November 30th. Deutsche Bank dropped their target price on shares of General Electric from $18.00 to $15.00 and set a “sell” rating on the stock in a research report on Tuesday, November 21st. J P Morgan Chase & Co set a $17.00 target price on shares of General Electric and gave the company a “sell” rating in a research report on Wednesday, November 15th. Finally, Bank of America reiterated a “buy” rating and issued a $23.00 target price (down previously from $27.00) on shares of General Electric in a research report on Tuesday, November 14th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.39.
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