Visionary Asset Management Inc. Lowers Stake in General Electric (GE)

Visionary Asset Management Inc. cut its holdings in General Electric (NYSE:GE) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,405 shares of the conglomerate’s stock after selling 6,468 shares during the quarter. Visionary Asset Management Inc.’s holdings in General Electric were worth $2,259,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in General Electric by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 600,238,644 shares of the conglomerate’s stock valued at $16,212,445,000 after acquiring an additional 3,297,890 shares in the last quarter. BlackRock Inc. grew its stake in General Electric by 3.9% during the 2nd quarter. BlackRock Inc. now owns 517,315,514 shares of the conglomerate’s stock valued at $13,972,691,000 after acquiring an additional 19,422,516 shares in the last quarter. Capital World Investors grew its stake in General Electric by 8.6% during the 2nd quarter. Capital World Investors now owns 141,322,676 shares of the conglomerate’s stock valued at $3,817,125,000 after acquiring an additional 11,194,678 shares in the last quarter. Capital Research Global Investors grew its stake in General Electric by 18.6% during the 2nd quarter. Capital Research Global Investors now owns 91,205,460 shares of the conglomerate’s stock valued at $2,463,459,000 after acquiring an additional 14,316,281 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in General Electric by 43.8% during the 2nd quarter. Franklin Resources Inc. now owns 78,024,403 shares of the conglomerate’s stock valued at $2,107,438,000 after acquiring an additional 23,764,129 shares in the last quarter. Hedge funds and other institutional investors own 56.30% of the company’s stock.

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In related news, insider Alexander Dimitrief bought 2,689 shares of General Electric stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $16.16 per share, for a total transaction of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at $1,311,949.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.12% of the stock is currently owned by insiders.

Several research firms have weighed in on GE. Royal Bank of Canada reaffirmed a “hold” rating and set a $15.00 target price on shares of General Electric in a research note on Thursday. Stifel Nicolaus lowered their target price on General Electric from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Tuesday, April 3rd. Citigroup reaffirmed a “buy” rating on shares of General Electric in a research note on Tuesday, April 3rd. DZ Bank reaffirmed a “sell” rating on shares of General Electric in a research note on Tuesday, April 3rd. Finally, JPMorgan Chase reissued an “underweight” rating and issued a $11.00 price target (down previously from $14.00) on shares of General Electric in a research note on Tuesday, March 13th. Six analysts have rated the stock with a sell rating, twelve have given a hold rating, three 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 a consensus target price of $18.09.

GE traded down $0.37 on Friday, hitting $13.06. The company had a trading volume of 63,465,872 shares, compared to its average volume of 78,208,688. General Electric has a 1-year low of $12.73 and a 1-year high of $30.54. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.59 and a current ratio of 1.87. The firm has a market cap of $113,394.45, a P/E ratio of 12.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.02.

General Electric (NYSE:GE) last posted its earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 11.60% and a negative net margin of 4.74%. The company had revenue of $31.40 billion during the quarter, compared to analyst estimates of $33.93 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. analysts anticipate that General Electric will post 0.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Monday, February 26th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.68%. General Electric’s dividend payout ratio (DPR) is currently 45.71%.

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General Electric Profile

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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