TB Alternative Assets Ltd. decreased its position in General Electric (NYSE:GE) by 12.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 551,800 shares of the conglomerate’s stock after selling 78,300 shares during the period. TB Alternative Assets Ltd.’s holdings in General Electric were worth $3,438,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisory Group Advisory Services LLC bought a new stake in shares of General Electric in the first quarter worth $27,000. Balentine LLC acquired a new stake in General Electric in the 1st quarter valued at about $34,000. Watson Rebecca acquired a new stake in General Electric in the 2nd quarter valued at about $34,000. Evolution Wealth Advisors LLC lifted its holdings in General Electric by 58.2% in the 3rd quarter. Evolution Wealth Advisors LLC now owns 5,689 shares of the conglomerate’s stock valued at $35,000 after acquiring an additional 2,092 shares during the last quarter. Finally, Lake Point Wealth Management acquired a new stake in General Electric in the 1st quarter valued at about $38,000. 59.95% of the stock is owned by institutional investors.
A number of equities research analysts have weighed in on GE shares. Oppenheimer reissued a “hold” rating on shares of General Electric in a report on Monday, August 3rd. ValuEngine raised shares of General Electric from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. restated a “fair value” rating on shares of General Electric in a report on Monday, August 31st. Zacks Investment Research upgraded General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on General Electric from $6.25 to $6.81 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. General Electric has a consensus rating of “Buy” and a consensus price target of $9.09.
In other news, Director Trian Fund Management, L.P. sold 15,569,158 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $6.14, for a total transaction of $95,594,630.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward P. Garden sold 3,264,481 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $6.09, for a total transaction of $19,880,689.29. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.
GE traded up $0.42 during trading on Friday, hitting $7.29. The company had a trading volume of 169,147,263 shares, compared to its average volume of 97,304,438. The company has a market cap of $63.81 billion, a PE ratio of -12.57 and a beta of 0.92. The business has a 50-day moving average of $6.41 and a 200-day moving average of $6.65. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.95. General Electric has a 1-year low of $5.48 and a 1-year high of $13.26.
General Electric (NYSE:GE) last released its earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The business had revenue of $17.75 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was down 38.4% on a year-over-year basis. Research analysts forecast that General Electric will post -0.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Stockholders of record on Monday, September 28th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, September 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.55%. General Electric’s dividend payout ratio is currently 6.15%.
About General Electric
General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.
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