Dai Ichi Life Insurance Company Ltd lessened its holdings in General Electric (NYSE:GE) by 28.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 559,455 shares of the conglomerate’s stock after selling 221,618 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in General Electric were worth $7,614,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GE. Fusion Family Wealth LLC increased its position in General Electric by 153.3% during the 2nd quarter. Fusion Family Wealth LLC now owns 8,264 shares of the conglomerate’s stock valued at $112,000 after purchasing an additional 5,002 shares during the period. Mount Yale Investment Advisors LLC acquired a new stake in General Electric during the 1st quarter valued at approximately $116,000. Archford Capital Strategies LLC acquired a new stake in General Electric during the 1st quarter valued at approximately $121,000. Blue Chip Wealth Management Inc. acquired a new stake in General Electric during the 1st quarter valued at approximately $135,000. Finally, Harborview Advisors LLC acquired a new stake in General Electric during the 1st quarter valued at approximately $137,000. Institutional investors and hedge funds own 53.81% of the company’s stock.
In other General Electric news, SVP Alexander Dimitrief purchased 10,000 shares of General Electric stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $9.48 per share, with a total value of $94,800.00. Following the transaction, the senior vice president now owns 103,075 shares in the company, valued at approximately $977,151. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman H Lawrence Culp, Jr. purchased 225,000 shares of General Electric stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average cost of $9.73 per share, with a total value of $2,189,250.00. The disclosure for this purchase can be found here. Company insiders own 1.12% of the company’s stock.
Shares of GE stock opened at $8.58 on Friday. The company has a market cap of $81.79 billion, a PE ratio of 8.17, a P/E/G ratio of 2.53 and a beta of 0.95. General Electric has a 52 week low of $8.15 and a 52 week 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 1.36.
General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $29.57 billion for the quarter, compared to analyst estimates of $30.08 billion. General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. On average, sell-side analysts expect that General Electric will post 0.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Investors of record on Monday, September 17th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Friday, September 14th. General Electric’s payout ratio is currently 45.71%.
GE has been the subject of a number of recent analyst reports. Citigroup set a $21.00 target price on shares of General Electric and gave the company a “buy” rating in a research report on Monday, October 1st. UBS Group decreased their target price on shares of General Electric from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, September 5th. JPMorgan Chase & Co. reissued a “sell” rating and set a $10.00 target price on shares of General Electric in a research report on Thursday, October 25th. Bank of America set a $16.00 target price on shares of General Electric and gave the company a “hold” rating in a research report on Monday, September 24th. Finally, Morningstar set a $15.70 target price on shares of General Electric and gave the company a “buy” rating in a research report on Monday, August 13th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.72.
General Electric Profile
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.
Read More: Compound Annual Growth Rate (CAGR)
Want to see what other hedge funds are holding GE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Electric (NYSE:GE).
Receive News & Ratings for General Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Electric and related companies with MarketBeat.com's FREE daily email newsletter.