Berkeley Capital Partners LLC trimmed its holdings in shares of General Electric Company (NYSE:GE) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 53,507 shares of the conglomerate’s stock after selling 5,929 shares during the quarter. General Electric makes up about 1.0% of Berkeley Capital Partners LLC’s investment portfolio, making the stock its 19th largest holding. Berkeley Capital Partners LLC’s holdings in General Electric were worth $1,445,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. 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. Schwab Charles Investment Management Inc. grew its position in General Electric by 4.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 29,006,605 shares of the conglomerate’s stock valued at $783,469,000 after buying an additional 1,357,535 shares during the period. APG Asset Management N.V. grew its position in General Electric by 0.9% during the second quarter. APG Asset Management N.V. now owns 17,683,409 shares of the conglomerate’s stock valued at $477,629,000 after buying an additional 159,600 shares during the period. Boston Partners grew its position in General Electric by 7,892.3% during the second quarter. Boston Partners now owns 14,228,611 shares of the conglomerate’s stock valued at $384,315,000 after buying an additional 14,050,581 shares during the period. Finally, US Bancorp DE grew its position in General Electric by 2.2% during the second quarter. US Bancorp DE now owns 11,477,069 shares of the conglomerate’s stock valued at $309,996,000 after buying an additional 243,034 shares during the period. Institutional investors own 54.29% of the company’s stock.
General Electric Company (GE) opened at $18.25 on Friday. 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 1 year low of $17.46 and a 1 year high of $32.38. The firm has a market cap of $158,496.23, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 2.05 and a beta of 1.11.
General Electric (NYSE:GE) last posted its quarterly earnings data 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). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The firm had revenue of $33.47 billion for the quarter, compared to the consensus estimate of $32.51 billion. During the same quarter last year, the firm earned $0.32 EPS. The company’s revenue was up 11.5% on a year-over-year basis. equities research analysts expect that General Electric Company will post 1.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 120.00%.
In related news, Director James S. Tisch purchased 100,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was bought at an average price of $18.24 per share, for a total transaction of $100,320.00. Following the completion of the acquisition, the director now owns 5,500 shares of the company’s stock, valued at approximately $100,320. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/17/berkeley-capital-partners-llc-sells-5929-shares-of-general-electric-company-ge.html.
A number of research firms have weighed in on GE. J P Morgan Chase & Co set a $22.00 price target on shares of General Electric and gave the stock a “sell” rating in a research report on Tuesday, September 19th. Citigroup Inc. set a $28.00 price target on shares of General Electric and gave the stock a “buy” rating in a research report on Monday, October 23rd. UBS AG lowered shares of General Electric from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $24.00 in a research report on Monday, October 23rd. Royal Bank Of Canada lowered shares of General Electric from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $25.00 to $20.00 in a research report on Tuesday. Finally, Stifel Nicolaus set a $22.00 price target on shares of General Electric and gave the stock a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $24.84.
General Electric Profile
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric Company (NYSE:GE).
Receive News & Ratings for General Electric Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric Company and related companies with MarketBeat.com's FREE daily email newsletter.