Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of General Electric (NYSE:GE) by 7.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 836,330 shares of the conglomerate’s stock after selling 70,973 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in General Electric were worth $11,382,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Gulf International Bank UK Ltd boosted its position in General Electric by 2.5% during the 2nd quarter. Gulf International Bank UK Ltd now owns 2,799,022 shares of the conglomerate’s stock worth $38,094,000 after purchasing an additional 67,257 shares during the period. ST Germain D J Co. Inc. boosted its position in General Electric by 2.2% during the 2nd quarter. ST Germain D J Co. Inc. now owns 1,127,751 shares of the conglomerate’s stock worth $15,349,000 after purchasing an additional 24,812 shares during the period. Pure Financial Advisors Inc. purchased a new stake in General Electric during the 2nd quarter worth $207,000. Tributary Capital Management LLC boosted its position in General Electric by 5,184.5% in the 2nd quarter. Tributary Capital Management LLC now owns 73,455 shares of the conglomerate’s stock valued at $1,000,000 after buying an additional 72,065 shares during the last quarter. Finally, Filament LLC purchased a new position in General Electric in the 2nd quarter valued at about $154,000. 53.81% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of General Electric from $10.00 to $6.00 and set an “underweight” rating for the company in a research report on Friday. UBS Group cut shares of General Electric to an “add” rating and set a $23.00 price objective for the company. in a research report on Tuesday, October 2nd. Cowen reissued a “hold” rating and issued a $14.50 price objective on shares of General Electric in a research report on Monday, October 1st. Deutsche Bank set a $15.00 price objective on shares of General Electric and gave the company a “hold” rating in a research report on Monday, July 23rd. Finally, Gabelli reissued a “buy” rating on shares of General Electric in a research report on Wednesday, July 18th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. General Electric currently has an average rating of “Hold” and an average target price of $14.72.
In other General Electric news, Chairman H Lawrence Culp, Jr. acquired 225,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were purchased at an average price of $9.73 per share, for a total transaction of $2,189,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander Dimitrief acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $9.48 per share, for a total transaction of $94,800.00. Following the purchase, the senior vice president now owns 103,075 shares of the company’s stock, valued at $977,151. 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 current ratio of 1.66, a quick ratio of 1.36 and a debt-to-equity ratio of 2.03. General Electric has a one year low of $8.15 and a one year high of $20.75. The stock has a market cap of $79.88 billion, a PE ratio of 12.10, a P/E/G ratio of 2.47 and a beta of 0.95.
General Electric (NYSE:GE) last issued its quarterly earnings results on Tuesday, October 30th. The conglomerate reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). General Electric had a positive return on equity of 10.29% and a negative net margin of 27.36%. The company had revenue of $29.57 billion for the quarter, compared to the consensus estimate of $30.08 billion. During the same period in the previous year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, analysts anticipate that General Electric will post 0.68 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, October 25th. Stockholders of record on Monday, September 17th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.48 annualized dividend and a dividend yield of 5.59%. General Electric’s payout ratio is 45.71%.
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General Electric Company 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.
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