Dimensional Fund Advisors LP grew its stake in General Electric (NYSE:GE) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,030,995 shares of the conglomerate’s stock after purchasing an additional 211,284 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.25% of General Electric worth $299,920,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GE. Buckley Wealth Management LLC lifted its holdings in General Electric by 1.3% during the first quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after acquiring an additional 3,575 shares during the period. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in General Electric by 28.1% during the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock worth $221,000 after acquiring an additional 3,600 shares during the period. Legacy Advisors LLC lifted its holdings in General Electric by 16.3% during the second quarter. Legacy Advisors LLC now owns 26,145 shares of the conglomerate’s stock worth $356,000 after acquiring an additional 3,669 shares during the period. Home Federal Bank of Tennessee lifted its holdings in General Electric by 7.4% during the second quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock worth $725,000 after acquiring an additional 3,675 shares during the period. Finally, Advisors Capital Management LLC lifted its holdings in General Electric by 7.6% during the first quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock worth $711,000 after acquiring an additional 3,714 shares during the period. Institutional investors own 53.75% of the company’s stock.
A number of analysts recently commented on GE shares. Bank of America reiterated a “hold” rating and set a $14.00 price target on shares of General Electric in a report on Thursday, October 4th. Credit Suisse Group reiterated a “neutral” rating and set a $12.00 price target on shares of General Electric in a report on Wednesday, October 31st. Royal Bank of Canada reissued a “neutral” rating and issued a $15.00 target price on shares of General Electric in a research report on Wednesday, August 8th. ValuEngine raised General Electric from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 6th. Finally, Zacks Investment Research raised General Electric from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $14.94.
NYSE:GE opened at $9.29 on Monday. The firm has a market capitalization of $80.66 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 2.40 and a beta of 0.95. General Electric has a 1 year low of $9.06 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.66 and a quick ratio of 1.51.
General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.06). The company had revenue of $29.57 billion during the quarter, compared to analysts’ expectations of $30.08 billion. General Electric had a negative net margin of 27.36% and a positive return on equity of 10.29%. General Electric’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.29 earnings per share. On average, equities research analysts predict that General Electric will post 0.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Friday, September 14th. General Electric’s dividend payout ratio (DPR) is presently 45.71%.
About General Electric
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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