Achmea Investment Management B.V. trimmed its position in shares of General Electric Company (NYSE:GE) by 57.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 250,385 shares of the conglomerate’s stock after selling 336,790 shares during the period. Achmea Investment Management B.V.’s holdings in General Electric were worth $6,761,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its position in shares of General Electric by 43.8% during the second quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock worth $2,107,438,000 after purchasing an additional 23,764,129 shares during the last quarter. BlackRock Inc. lifted its position in shares of General Electric by 3.9% during the second quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock worth $13,972,691,000 after purchasing an additional 19,422,516 shares during the last quarter. Capital Research Global Investors lifted its position in shares of General Electric by 18.6% during the second quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock worth $2,463,459,000 after purchasing an additional 14,316,281 shares during the last quarter. Boston Partners lifted its position in shares of General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock worth $384,315,000 after purchasing an additional 14,050,581 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of General Electric by 1,011.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 14,632,325 shares of the conglomerate’s stock worth $395,219,000 after purchasing an additional 13,315,605 shares during the last quarter. Institutional investors and hedge funds own 55.74% of the company’s stock.
Several equities research analysts recently weighed in on GE shares. J P Morgan Chase & Co dropped their price objective on shares of General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 1st. Bank of America upgraded shares of General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Monday, October 23rd. Royal Bank of Canada set a $25.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Citigroup set a $28.00 price objective on shares of General Electric and gave the stock a “buy” rating in a research note on Monday, October 23rd. Finally, Morningstar reiterated a “buy” rating on shares of General Electric in a research note on Tuesday, November 14th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average price target of $23.39.
In related news, Director Steven M. Mollenkopf bought 5,500 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $100,320. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John Leonard Flannery bought 60,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were bought at an average cost of $18.27 per share, with a total value of $1,096,200.00. Following the purchase, the chairman now directly owns 575,477 shares in the company, valued at $10,513,964.79. The disclosure for this purchase can be found here. Insiders purchased a total of 120,500 shares of company stock valued at $2,183,220 in the last ninety days. Company insiders own 0.36% of the company’s stock.
Shares of General Electric Company (NYSE:GE) opened at $17.82 on Friday. The firm has a market cap of $154,493.20, a P/E ratio of 14.37, a P/E/G ratio of 1.93 and a beta of 1.06. General Electric Company has a 1-year low of $17.46 and a 1-year high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 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 the Zacks’ consensus estimate of $0.49 by ($0.20). The business had revenue of $33.47 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 earnings per share. equities research analysts predict that General Electric Company will post 1.07 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 25th. Investors of record on Wednesday, December 27th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, December 26th. General Electric’s dividend payout ratio is 120.00%.
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