Leisure Capital Management lessened its position in shares of General Electric (NYSE:GE) by 49.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,808 shares of the conglomerate’s stock after selling 20,466 shares during the period. Leisure Capital Management’s holdings in General Electric were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of GE. The Manufacturers Life Insurance Company lifted its holdings in shares of General Electric by 43.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,257,543 shares of the conglomerate’s stock worth $1,216,672,000 after acquiring an additional 27,527,425 shares during the period. Franklin Resources Inc. lifted its holdings in shares of General Electric by 11.0% during the 1st quarter. Franklin Resources Inc. now owns 204,957,949 shares of the conglomerate’s stock worth $2,762,834,000 after acquiring an additional 20,275,020 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of General Electric by 15.2% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 74,590,954 shares of the conglomerate’s stock worth $1,005,486,000 after acquiring an additional 9,835,343 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of General Electric during the 2nd quarter worth approximately $99,659,000. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of General Electric by 88.5% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 11,941,772 shares of the conglomerate’s stock worth $160,975,000 after acquiring an additional 5,607,494 shares during the period. 53.74% of the stock is owned by institutional investors.
Several equities analysts recently commented on the stock. Barclays raised shares of General Electric from an “equal weight” rating to an “overweight” rating and set a $16.00 price objective for the company in a research note on Monday. Morningstar set a $16.10 price objective on shares of General Electric and gave the company a “buy” rating in a research note on Monday. ValuEngine raised shares of General Electric from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research downgraded shares of General Electric from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, Bank of America reissued a “hold” rating and issued a $14.00 price objective on shares of General Electric in a research note on Thursday, October 4th. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $16.42.
GE stock opened at $13.61 on Tuesday. The firm has a market cap of $98.03 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. General Electric has a 52-week low of $11.21 and a 52-week high of $24.15. The company has a quick ratio of 1.51, a current ratio of 1.81 and a debt-to-equity ratio of 1.39.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The firm had revenue of $30.10 billion during the quarter, compared to the consensus estimate of $29.39 billion. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 earnings per share. On average, research analysts predict that General Electric will post 0.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Stockholders of record on Monday, September 17th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Friday, September 14th. General Electric’s payout ratio is currently 45.71%.
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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