General Electric (NYSE:GE) Holdings Trimmed by Meyer Handelman Co.

Meyer Handelman Co. trimmed its position in shares of General Electric (NYSE:GEGet Rating) by 1.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 218,237 shares of the conglomerate’s stock after selling 3,243 shares during the quarter. Meyer Handelman Co.’s holdings in General Electric were worth $13,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of GE. Blair William & Co. IL grew its holdings in shares of General Electric by 8.6% during the 4th quarter. Blair William & Co. IL now owns 194,463 shares of the conglomerate’s stock valued at $18,371,000 after acquiring an additional 15,320 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of General Electric by 9.8% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 17,805 shares of the conglomerate’s stock valued at $1,682,000 after purchasing an additional 1,594 shares during the last quarter. Taconic Capital Advisors LP lifted its stake in shares of General Electric by 40.0% in the 4th quarter. Taconic Capital Advisors LP now owns 350,000 shares of the conglomerate’s stock valued at $33,065,000 after purchasing an additional 100,000 shares during the last quarter. State Street Corp lifted its stake in shares of General Electric by 0.6% in the 4th quarter. State Street Corp now owns 43,496,942 shares of the conglomerate’s stock valued at $4,112,580,000 after purchasing an additional 255,566 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of General Electric by 4.1% in the 4th quarter. Continuum Advisory LLC now owns 24,772 shares of the conglomerate’s stock valued at $190,000 after purchasing an additional 974 shares during the last quarter. 67.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GE. The Goldman Sachs Group cut their target price on shares of General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday, June 23rd. Wells Fargo & Company upped their price objective on shares of General Electric to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, July 27th. UBS Group cut their price objective on shares of General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, August 4th. Barclays cut their price objective on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating for the company in a research report on Friday, July 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of General Electric from $90.00 to $88.00 in a research report on Wednesday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $99.15.

General Electric Price Performance

General Electric stock traded down $1.63 during trading hours on Friday, hitting $63.73. 201,620 shares of the stock were exchanged, compared to its average volume of 5,474,241. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.80 and a current ratio of 1.13. The stock has a market capitalization of $69.88 billion, a P/E ratio of -15.42, a P/E/G ratio of 3.40 and a beta of 1.09. General Electric has a 12 month low of $59.93 and a 12 month high of $116.17. The business’s 50-day moving average is $72.91 and its two-hundred day moving average is $77.09.

General Electric (NYSE:GEGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, beating the consensus estimate of $0.38 by $0.40. General Electric had a negative net margin of 5.94% and a positive return on equity of 7.50%. The business had revenue of $18.65 billion for the quarter, compared to analysts’ expectations of $17.90 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. General Electric’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that General Electric will post 2.74 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, September 26th. This represents a $0.32 annualized dividend and a dividend yield of 0.50%. General Electric’s dividend payout ratio (DPR) is currently -7.55%.

General Electric Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

See Also

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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