WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST cut its stake in General Electric Co. (NYSE:GE) by 58.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,500,000 shares of the company’s stock after selling 10,500,000 shares during the period. General Electric makes up about 5.4% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s holdings, making the stock its 9th largest position. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST owned 0.08% of General Electric worth $236,100,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. OLD Second National Bank of Aurora boosted its stake in shares of General Electric by 0.7% in the second quarter. OLD Second National Bank of Aurora now owns 115,495 shares of the company’s stock valued at $3,636,000 after buying an additional 827 shares during the period. LS Investment Advisors LLC boosted its stake in shares of General Electric by 16.9% in the second quarter. LS Investment Advisors LLC now owns 325,078 shares of the company’s stock valued at $10,233,000 after buying an additional 46,946 shares during the period. Atwood & Palmer Inc. boosted its stake in shares of General Electric by 3.2% in the second quarter. Atwood & Palmer Inc. now owns 459,701 shares of the company’s stock valued at $14,471,000 after buying an additional 14,375 shares during the period. Jolley Asset Management LLC boosted its stake in shares of General Electric by 1.0% in the second quarter. Jolley Asset Management LLC now owns 138,319 shares of the company’s stock valued at $4,354,000 after buying an additional 1,307 shares during the period. Finally, Commonwealth Financial Services LLC boosted its stake in shares of General Electric by 1.1% in the second quarter. Commonwealth Financial Services LLC now owns 11,240 shares of the company’s stock valued at $354,000 after buying an additional 120 shares during the period. 55.81% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of General Electric Co. (NYSE:GE) traded down 0.07% on Wednesday, hitting $28.90. The stock had a trading volume of 22,754,503 shares. General Electric Co. has a 52-week low of $27.10 and a 52-week high of $33.00. The firm’s 50-day moving average price is $30.18 and its 200 day moving average price is $30.73. The firm has a market cap of $258.98 billion, a PE ratio of 24.43 and a beta of 1.15.

General Electric (NYSE:GE) last released its earnings results on Friday, July 22nd. The company reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.05. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm earned $33.49 million during the quarter, compared to analysts’ expectations of $31.76 billion. During the same period in the previous year, the firm posted $0.31 EPS. General Electric’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts predict that General Electric Co. will post $1.50 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Monday, September 19th will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, September 15th. This represents a $0.92 annualized dividend and a yield of 3.18%. General Electric’s payout ratio is 77.97%.

Several analysts recently weighed in on GE shares. JPMorgan Chase & Co. set a $28.00 price target on General Electric and gave the company a “sell” rating in a report on Friday, September 23rd. Goldman Sachs Group Inc. set a $29.00 price target on General Electric and gave the company a “neutral” rating in a report on Monday, June 27th. Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $30.93 price target on the stock in a report on Thursday, July 7th. Royal Bank Of Canada restated an “outperform” rating on shares of General Electric in a report on Monday, June 20th. Finally, William Blair restated an “outperform” rating and set a $38.00 price target on shares of General Electric in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.79.

In other General Electric news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the stock in a transaction dated Tuesday, July 26th. The stock was acquired at an average cost of $31.45 per share, with a total value of $1,572,500.00. Following the transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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