Shufro Rose & Co. LLC decreased its position in shares of General Electric Company (NYSE:GE) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,429,048 shares of the conglomerate’s stock after selling 8,446 shares during the quarter. General Electric accounts for approximately 4.1% of Shufro Rose & Co. LLC’s investment portfolio, making the stock its 2nd largest holding. Shufro Rose & Co. LLC’s holdings in General Electric were worth $38,599,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in General Electric by 7,892.3% in the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after acquiring an additional 14,050,581 shares during the period. Harris Associates L P raised its stake in shares of General Electric by 26.4% during the 1st 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 period. First Trust Advisors LP raised its stake in shares of General Electric by 417.3% during the 2nd quarter. First Trust Advisors LP now owns 4,452,413 shares of the conglomerate’s stock worth $120,260,000 after buying an additional 3,591,689 shares during the period. UBS Oconnor LLC raised its stake in shares of General Electric by 795.5% during the 1st quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock worth $60,345,000 after buying an additional 1,798,877 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of General Electric by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock worth $783,469,000 after buying an additional 1,357,535 shares during the period. 54.75% of the stock is owned by hedge funds and other institutional investors.
General Electric Company (GE) opened at $17.98 on Tuesday. The stock has a market capitalization of $156,310.00, a P/E ratio of 14.69, a P/E/G ratio of 1.99 and a beta of 1.11. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The firm had revenue of $33.47 billion for the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. analysts expect that General Electric Company will post 1.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were paid a $0.24 dividend. The ex-dividend date was Friday, September 15th. This represents a $0.96 annualized dividend and a dividend yield of 5.34%. General Electric’s dividend payout ratio (DPR) is currently 111.63%.
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Several brokerages recently commented on GE. J P Morgan Chase & Co set a $22.00 price target on General Electric and gave the stock a “sell” rating in a research report on Monday, July 24th. Morgan Stanley cut General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 target price for the company. in a report on Monday, October 23rd. Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and dropped their target price for the company from $26.00 to $22.00 in a report on Tuesday, October 24th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $21.74 target price for the company in a report on Monday, October 23rd. Finally, Argus dropped their target price on General Electric from $30.00 to $27.00 and set a “buy” rating for the company in a report on Monday, September 18th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. General Electric presently has an average rating of “Hold” and a consensus price target of $24.84.
In other General Electric news, Director Steven M. Mollenkopf purchased 5,500 shares of General Electric stock in a transaction dated Thursday, November 16th. The stock was acquired at an average cost of $18.24 per share, with a total value of $100,320.00. Following the acquisition, the director now directly owns 5,500 shares of the company’s stock, valued at $100,320. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Francisco Dsouza purchased 55,000 shares of General Electric stock in a transaction dated Monday, November 20th. The stock was acquired at an average cost of $17.94 per share, with a total value of $986,700.00. The disclosure for this purchase can be found here. Insiders acquired a total of 120,500 shares of company stock worth $2,183,220 over the last quarter. Company insiders own 0.36% of the company’s stock.
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