General Electric (NYSE:GE) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its stake in General Electric (NYSE:GE) by 23.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 93,122 shares of the conglomerate’s stock after selling 28,136 shares during the quarter. Los Angeles Capital Management LLC’s holdings in General Electric were worth $14,804,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GE. USA Financial Formulas grew its position in shares of General Electric by 24,042.9% in the fourth quarter. USA Financial Formulas now owns 10,140 shares of the conglomerate’s stock valued at $1,294,000 after purchasing an additional 10,098 shares during the period. Rathbones Group PLC increased its stake in General Electric by 2.7% during the 4th quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after buying an additional 5,997 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of General Electric by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,184,772 shares of the conglomerate’s stock valued at $534,123,000 after acquiring an additional 318,245 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of General Electric by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after acquiring an additional 550,996 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of General Electric by 3.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock valued at $36,786,000 after acquiring an additional 8,788 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on GE shares. Barclays boosted their price target on General Electric from $175.00 to $200.00 and gave the stock 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. JPMorgan Chase & Co. raised their price target on shares of General Electric from $148.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Wells Fargo & Company upped their price objective on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, UBS Group increased their price objective on shares of General Electric from $201.00 to $209.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.38.

General Electric Stock Down 1.6 %

Shares of NYSE GE opened at $161.23 on Friday. The company has a 50 day simple moving average of $165.78 and a 200-day simple moving average of $163.28. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.14 and a quick ratio of 0.85. The company has a market capitalization of $176.48 billion, a P/E ratio of 52.86, a P/E/G ratio of 1.73 and a beta of 1.18. General Electric has a 1 year low of $84.42 and a 1 year high of $177.20.

General Electric (NYSE:GE) last announced its quarterly earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. On average, equities research analysts predict that General Electric will post 4.2 earnings per share for the current year.

General Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Thursday, July 11th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Company 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.