Swedbank increased its stake in shares of General Electric Co. (NYSE:GE) by 0.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,621,210 shares of the company’s stock after buying an additional 6,693 shares during the period. Swedbank’s holdings in General Electric were worth $113,995,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in General Electric by 0.5% in the second quarter. Fisher Asset Management LLC now owns 31,314,984 shares of the company’s stock valued at $1,008,656,000 after buying an additional 161,641 shares during the period. Acadian Asset Management LLC boosted its stake in shares of General Electric by 291.0% in the second quarter. Acadian Asset Management LLC now owns 4,872,359 shares of the company’s stock worth $153,380,000 after buying an additional 3,626,125 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of General Electric by 2.7% in the second quarter. Nisa Investment Advisors LLC now owns 3,055,791 shares of the company’s stock worth $96,194,000 after buying an additional 80,219 shares during the period. Nordea Investment Management AB boosted its stake in shares of General Electric by 41.4% in the second quarter. Nordea Investment Management AB now owns 2,490,749 shares of the company’s stock worth $78,409,000 after buying an additional 729,800 shares during the period. Finally, Exxonmobil Investment Management Inc. TX boosted its stake in shares of General Electric by 4.8% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 2,380,298 shares of the company’s stock worth $74,932,000 after buying an additional 108,523 shares during the period. Institutional investors and hedge funds own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded down 0.07% during midday trading on Wednesday, hitting $28.90. 22,754,503 shares of the stock traded hands. The company has a 50-day moving average of $30.18 and a 200-day moving average of $30.73. The stock has a market cap of $258.98 billion, a PE ratio of 24.43 and a beta of 1.15. General Electric Co. has a 12 month low of $27.10 and a 12 month high of $33.00.
General Electric (NYSE:GE) last issued its quarterly earnings data on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The company had revenue of $33.49 million for the quarter, compared to the consensus estimate of $31.76 billion. During the same quarter last year, the company earned $0.31 earnings per share. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that General Electric Co. will post $1.50 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s dividend payout ratio is presently 77.97%.
A number of analysts have recently commented on the stock. Credit Suisse Group AG restated a “buy” rating on shares of General Electric in a report on Saturday, July 9th. Stifel Nicolaus set a $31.00 target price on shares of General Electric and gave the company a “buy” rating in a report on Wednesday. Vetr cut shares of General Electric from a “buy” rating to a “hold” rating and set a $30.93 target price on the stock. in a report on Tuesday, June 14th. Morgan Stanley restated an “equal weight” rating and set a $32.00 target price on shares of General Electric in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. restated an “underweight” rating on shares of General Electric in a report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $32.79.
In other General Electric news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the stock in a transaction on Tuesday, July 26th. The stock was acquired at an average price of $31.45 per share, with a total value of $1,572,500.00. Following the completion of the acquisition, the chairman now owns 2,198,688 shares in the company, valued at $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by company insiders.
General Electric Company Profile
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