Bailard Inc. Decreases Stake in General Electric (NYSE:GE)

Bailard Inc. lessened its stake in shares of General Electric (NYSE:GE) by 81.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,529 shares of the conglomerate’s stock after selling 6,640 shares during the quarter. Bailard Inc.’s holdings in General Electric were worth $243,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. MFA Wealth Advisors LLC bought a new position in General Electric during the 2nd quarter valued at approximately $31,000. Kapitalo Investimentos Ltda purchased a new position in shares of General Electric during the fourth quarter valued at approximately $32,000. Richardson Financial Services Inc. bought a new position in shares of General Electric during the first quarter valued at approximately $34,000. Macroview Investment Management LLC raised its holdings in shares of General Electric by 37.9% during the second quarter. Macroview Investment Management LLC now owns 211 shares of the conglomerate’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in General Electric in the first quarter worth $37,000. Institutional investors own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com cut shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a research report on Monday, July 1st. Finally, Jefferies Financial Group increased their target price on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.38.

General Electric Price Performance

GE stock opened at $170.99 on Wednesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The firm has a market capitalization of $187.17 billion, a price-to-earnings ratio of 56.06, a PEG ratio of 1.70 and a beta of 1.21. The firm has a 50 day moving average price of $164.55 and a 200-day moving average price of $161.91. General Electric has a 52-week low of $84.42 and a 52-week high of $177.20.

General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.21. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. Equities research analysts forecast that General Electric will post 4.15 EPS for the current fiscal year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Thursday, July 11th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 11th. This represents a $1.12 annualized dividend and a yield of 0.66%. General Electric’s dividend payout ratio (DPR) is presently 36.72%.

General Electric Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.