General Electric (NYSE:GE) Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC increased its holdings in shares of General Electric (NYSE:GEGet Rating) by 101.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,246 shares of the conglomerate’s stock after purchasing an additional 5,160 shares during the quarter. Checchi Capital Advisers LLC’s holdings in General Electric were worth $938,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of General Electric by 9.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 584,895 shares of the conglomerate’s stock worth $53,518,000 after purchasing an additional 51,937 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of General Electric by 586.3% in the 1st quarter. Qube Research & Technologies Ltd now owns 491,386 shares of the conglomerate’s stock worth $44,962,000 after purchasing an additional 419,783 shares during the period. Retirement Planning Co of New England Inc. raised its holdings in shares of General Electric by 12.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 3,497 shares of the conglomerate’s stock worth $320,000 after purchasing an additional 390 shares during the period. Great Lakes Advisors LLC raised its holdings in shares of General Electric by 1.6% in the 1st quarter. Great Lakes Advisors LLC now owns 441,302 shares of the conglomerate’s stock worth $40,380,000 after purchasing an additional 6,873 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of General Electric by 76.6% in the 1st quarter. Los Angeles Capital Management LLC now owns 9,765 shares of the conglomerate’s stock worth $893,000 after purchasing an additional 4,237 shares during the period. 67.37% of the stock is currently owned by hedge funds and other institutional investors.

General Electric Stock Performance

Shares of NYSE GE opened at $74.36 on Friday. General Electric has a 12-month low of $59.93 and a 12-month high of $116.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.13 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $68.90 and its 200 day simple moving average is $82.14.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.40. The business had revenue of $18.65 billion for the quarter, compared to the consensus estimate of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. Research analysts expect that General Electric will post 2.74 earnings per share for the current year.

General Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Tuesday, June 28th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.43%. The ex-dividend date was Monday, June 27th. General Electric’s payout ratio is currently -7.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on General Electric to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Credit Suisse Group lowered their target price on General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. UBS Group lowered their target price on General Electric from $113.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on General Electric from $90.00 to $88.00 in a research note on Wednesday, July 27th. Finally, Bank of America lowered their price objective on General Electric from $132.00 to $120.00 in a research note on Wednesday, April 27th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and an average price target of $103.21.

General Electric Company 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.

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

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