Denver Investment Advisors LLC raised its position in General Electric Company (NYSE:GE) by 1.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 750,334 shares of the conglomerate’s stock after buying an additional 9,898 shares during the period. General Electric comprises 0.9% of Denver Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Denver Investment Advisors LLC’s holdings in General Electric were worth $20,267,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harris Associates L P boosted 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 worth $1,382,009,000 after acquiring an additional 9,681,420 shares during the last quarter. Schwab Charles Investment Management Inc. boosted 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 worth $783,469,000 after acquiring an additional 1,357,535 shares during the last quarter. APG Asset Management N.V. boosted 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 worth $477,629,000 after acquiring an additional 159,600 shares during the last quarter. Boston Partners boosted 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 worth $384,315,000 after acquiring an additional 14,050,581 shares during the last quarter. Finally, US Bancorp DE boosted 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 worth $309,996,000 after acquiring an additional 243,034 shares during the last quarter. 55.74% of the stock is owned by institutional investors.
Shares of General Electric Company (NYSE GE) traded up $0.05 during trading hours on Thursday, hitting $17.71. 55,576,669 shares of the company’s stock were exchanged, compared to its average volume of 45,155,109. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.53 and a current ratio of 1.86. The stock has a market cap of $154,016.23, a P/E ratio of 14.32, 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.
General Electric (NYSE:GE) last posted its earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.20). The company had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.32 earnings per share. research analysts expect that General Electric Company will post 1.07 earnings per share for the current fiscal year.
Several equities analysts have weighed in on the stock. Vetr lowered shares of General Electric from a “hold” rating to a “sell” rating and set a $23.72 target price on the stock. in a report on Monday, September 25th. Goldman Sachs Group set a $19.00 price objective on shares of General Electric and gave the stock a “neutral” rating in a report on Thursday, November 30th. Cowen restated a “hold” rating and issued a $19.00 price objective on shares of General Electric in a report on Wednesday, November 8th. Deutsche Bank set a $21.00 price objective on shares of General Electric and gave the stock a “sell” rating in a report on Monday, October 23rd. Finally, J P Morgan Chase & Co restated an “underweight” rating on shares of General Electric in a report on Thursday, September 21st. Six analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. General Electric has a consensus rating of “Hold” and an average target price of $23.64.
In other General Electric news, Director Francisco Dsouza purchased 55,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven M. Mollenkopf purchased 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were acquired at an average price of $18.24 per share, with a total value of $100,320.00. Following the purchase, the director now owns 5,500 shares in the company, valued at $100,320. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 120,500 shares of company stock valued at $2,183,220. 0.36% of the stock is owned by company insiders.
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About General Electric
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