Swedbank Raises Position in General Electric Co. (GE)
Swedbank increased its stake in shares of General Electric Co. (NYSE:GE) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the SEC.
Several other large investors also recently made changes to their positions in the stock. Fisher Asset Management LLC raised 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 worth $1,008,656,000 after buying an additional 161,641 shares during the last quarter. Acadian Asset Management LLC raised its stake in 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 last quarter. Nisa Investment Advisors LLC raised its stake in 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 last quarter. Nordea Investment Management AB raised its stake in 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 last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its stake in 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 last quarter. 55.81% of the stock is currently owned by institutional investors.
General Electric Co. (NYSE:GE) traded down 0.07% during trading on Wednesday, reaching $28.90. 22,754,503 shares of the company traded hands. General Electric Co. has a 52 week low of $27.10 and a 52 week high of $33.00. The company’s 50-day moving average price is $30.18 and its 200 day moving average price is $30.73. The firm has a market capitalization of $258.98 billion, a price-to-earnings ratio of 24.43 and a beta of 1.15.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.05. The business had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a net margin of 9.14% and a return on equity of 15.04%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 earnings per share. On average, equities research analysts expect that General Electric Co. will post $1.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors 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 is Thursday, September 15th. General Electric’s dividend payout ratio (DPR) is currently 77.97%.
A number of equities research analysts have weighed in on GE shares. Vetr raised shares of General Electric from a “sell” rating to a “hold” rating and set a $30.93 target price on the stock in a report on Thursday, July 7th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $34.00 price objective on shares of General Electric in a research note on Monday, June 27th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $26.00 price objective on shares of General Electric in a research note on Thursday, August 11th. Bank of America Corp. reaffirmed a “buy” rating and issued a $37.00 price objective on shares of General Electric in a research note on Thursday, October 6th. Finally, Zacks Investment Research raised shares of General Electric from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.79.
In related news, Chairman Jeffrey R. Immelt purchased 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were acquired at an average price of $31.45 per share, for a total transaction of $1,572,500.00. Following the completion of the acquisition, the chairman now directly owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.
About General Electric
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