Mercer Global Advisors Inc. ADV Has $29.58 Million Stock Holdings in General Electric (NYSE:GE)

Mercer Global Advisors Inc. ADV decreased its stake in General Electric (NYSE:GE) by 17.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,406 shares of the conglomerate’s stock after selling 40,128 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in General Electric were worth $29,580,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aveo Capital Partners LLC acquired a new stake in General Electric during the fourth quarter worth approximately $203,000. Gryphon Financial Partners LLC grew its stake in General Electric by 57.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,957 shares of the conglomerate’s stock worth $1,526,000 after purchasing an additional 4,354 shares during the period. Jump Financial LLC acquired a new stake in General Electric during the fourth quarter worth approximately $477,000. Corient Private Wealth LLC grew its stake in General Electric by 8.0% during the fourth quarter. Corient Private Wealth LLC now owns 229,376 shares of the conglomerate’s stock worth $29,275,000 after purchasing an additional 16,952 shares during the period. Finally, CreativeOne Wealth LLC grew its stake in General Electric by 13.8% during the fourth quarter. CreativeOne Wealth LLC now owns 3,975 shares of the conglomerate’s stock worth $507,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 74.77% of the company’s stock.

General Electric Stock Performance

Shares of General Electric stock opened at $183.54 on Thursday. The business’s fifty day simple moving average is $167.63 and its 200 day simple moving average is $170.96. The firm has a market capitalization of $200.90 billion, a P/E ratio of 60.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. General Electric has a 12 month low of $84.42 and a 12 month high of $185.77. The company has a current ratio of 1.14, a quick ratio of 0.85 and a debt-to-equity ratio of 0.95.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.21. General Electric had a return on equity of 16.07% and a net margin of 7.66%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 4.2 EPS for the current year.

General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is currently 36.72%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on GE shares. StockNews.com lowered General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on General Electric from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, June 10th. UBS Group increased their price target on General Electric from $201.00 to $209.00 and gave the stock a “buy” rating in a report on Monday, July 1st. Wells Fargo & Company increased their price target on General Electric from $192.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein started coverage on General Electric in a report on Tuesday, September 10th. They issued an “outperform” rating and a $201.00 price target on the stock. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, General Electric has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

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.