Standard Life Investments LTD Has $141.47 Million Stake in General Electric Company (GE)
Standard Life Investments LTD grew its position in shares of General Electric Company (NYSE:GE) by 731.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,236,683 shares of the conglomerate’s stock after acquiring an additional 4,607,233 shares during the quarter. Standard Life Investments LTD owned about 7.70% of General Electric worth $141,468,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in GE. BerganKDV Wealth Management LLC lifted its holdings in General Electric by 0.3% in the second quarter. BerganKDV Wealth Management LLC now owns 11,804 shares of the conglomerate’s stock worth $319,000 after purchasing an additional 36 shares during the period. Puplava Financial Services Inc. lifted its holdings in General Electric by 0.4% in the second quarter. Puplava Financial Services Inc. now owns 11,209 shares of the conglomerate’s stock worth $303,000 after purchasing an additional 41 shares during the period. Cutter & CO Brokerage Inc. lifted its holdings in General Electric by 0.3% in the second quarter. Cutter & CO Brokerage Inc. now owns 20,620 shares of the conglomerate’s stock worth $557,000 after purchasing an additional 67 shares during the period. Northwest Wealth Management LLC lifted its holdings in General Electric by 0.8% in the second quarter. Northwest Wealth Management LLC now owns 9,392 shares of the conglomerate’s stock worth $254,000 after purchasing an additional 75 shares during the period. Finally, Insight 2811 Inc. lifted its holdings in General Electric by 0.3% in the first quarter. Insight 2811 Inc. now owns 37,789 shares of the conglomerate’s stock worth $1,126,000 after purchasing an additional 118 shares during the period. 54.38% of the stock is owned by institutional investors.
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General Electric Company (NYSE:GE) opened at $20.14 on Monday. The firm has a market capitalization of $174,655.78, a PE ratio of 16.24, a PEG ratio of 2.11 and a beta of 1.11. General Electric Company has a twelve month low of $19.63 and a twelve month 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 issued its 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 during the quarter, compared to analyst estimates of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. General Electric’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. sell-side analysts forecast that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Monday, September 18th were issued a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.77%. General Electric’s dividend payout ratio is 120.00%.
Several equities research analysts recently weighed in on the stock. J P Morgan Chase & Co reduced their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, November 1st. Vetr raised shares of General Electric from a “buy” rating to a “strong-buy” rating and set a $23.28 price objective for the company in a report on Monday, October 30th. UBS AG reaffirmed a “sell” rating and issued a $18.00 price objective (down previously from $21.00) on shares of General Electric in a report on Monday, October 30th. Oppenheimer Holdings, Inc. downgraded shares of General Electric from a “market perform” rating to an “underperform” rating in a report on Tuesday, October 24th. Finally, Stifel Nicolaus downgraded shares of General Electric from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.84.
In other news, Director James S. Tisch purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was acquired at an average price of $24.56 per share, with a total value of $2,456,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Leonard Flannery purchased 103,983 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $25.56 per share, with a total value of $2,657,805.48. Following the purchase, the chief executive officer now owns 509,430 shares in the company, valued at approximately $13,021,030.80. The disclosure for this purchase can be found here. 0.36% of the stock is owned by corporate insiders.
About General Electric
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