CAPROCK Group Inc. trimmed its stake in General Electric (NYSE:GE) by 28.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 71,335 shares of the conglomerate’s stock after selling 28,712 shares during the quarter. CAPROCK Group Inc.’s holdings in General Electric were worth $981,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC acquired a new position in General Electric in the first quarter valued at $116,000. Santori & Peters Inc. acquired a new position in General Electric in the fourth quarter valued at $120,000. Archford Capital Strategies LLC acquired a new stake in General Electric during the first quarter worth about $121,000. Blue Chip Wealth Management Inc. acquired a new stake in General Electric during the first quarter worth about $135,000. Finally, Harborview Advisors LLC acquired a new stake in General Electric during the first quarter worth about $137,000. 53.74% of the stock is owned by institutional investors.
In related news, Director H Lawrence Culp, Jr. bought 191,000 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The stock was bought at an average price of $13.04 per share, with a total value of $2,490,640.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is owned by corporate insiders.
Shares of NYSE GE opened at $12.68 on Monday. General Electric has a 1-year low of $11.94 and a 1-year high of $25.21. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $109.49 billion, a PE ratio of 12.08, a P/E/G ratio of 2.39 and a beta of 0.96.
General Electric (NYSE:GE) last issued its earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.01. General Electric had a positive return on equity of 10.40% and a negative net margin of 6.59%. The company had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. research analysts anticipate that General Electric will post 0.96 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Friday, September 14th. General Electric’s payout ratio is 45.71%.
Several equities research analysts have commented on the company. Zacks Investment Research lowered General Electric from a “hold” rating to a “strong sell” rating in a research note on Friday, June 22nd. JPMorgan Chase & Co. set a $11.00 price target on General Electric and gave the stock a “sell” rating in a research note on Wednesday, June 27th. Royal Bank of Canada restated a “neutral” rating and set a $15.00 price target on shares of General Electric in a research note on Wednesday, June 20th. Goldman Sachs Group restated a “neutral” rating and set a $14.00 price target on shares of General Electric in a research note on Wednesday, June 27th. Finally, Deutsche Bank set a $15.00 price target on General Electric and gave the stock a “hold” rating in a research note on Monday, July 23rd. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $16.99.
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.
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