Fisher Asset Management LLC Sells 1,090,841 Shares of General Electric Company (GE)
Fisher Asset Management LLC trimmed its holdings in General Electric Company (NYSE:GE) by 4.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,232,106 shares of the conglomerate’s stock after selling 1,090,841 shares during the period. Fisher Asset Management LLC owned 0.24% of General Electric worth $573,479,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of GE. Ullmann Financial Group Inc. acquired a new stake in shares of General Electric in the first quarter valued at about $106,000. Feltz Wealth PLAN Inc. acquired a new stake in shares of General Electric in the first quarter valued at about $114,000. PHH Investments Ltd. raised its position in shares of General Electric by 105.0% in the first quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after buying an additional 2,000 shares during the last quarter. Parametrica Management Ltd acquired a new stake in shares of General Electric in the first quarter valued at about $214,000. Finally, Oakmont Partners LLC raised its position in shares of General Electric by 3.6% in the second quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 54.71% of the company’s stock.
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A number of equities research analysts have recently commented on GE shares. UBS AG reiterated a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a research report on Tuesday, July 25th. Vetr cut shares of General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 target price for the company. in a research report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) set a $29.00 target price on shares of General Electric and gave the company a “neutral” rating in a research report on Friday, July 7th. Credit Suisse Group AG reissued an “outperform” rating and issued a $33.00 price objective on shares of General Electric in a report on Saturday, July 22nd. Finally, J P Morgan Chase & Co reissued an “underweight” rating and issued a $22.00 price objective on shares of General Electric in a report on Thursday, September 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. General Electric presently has a consensus rating of “Hold” and a consensus price target of $28.39.
Shares of General Electric Company (NYSE GE) traded down 1.365% during mid-day trading on Friday, reaching $24.205. 15,019,120 shares of the company traded hands. The firm’s 50 day moving average price is $24.45 and its 200-day moving average price is $27.04. The company has a market capitalization of $209.57 billion, a P/E ratio of 29.482 and a beta of 1.19. General Electric Company has a 52-week low of $23.58 and a 52-week high of $32.38.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $29.56 billion during the quarter, compared to analysts’ expectations of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. Equities analysts predict that General Electric Company will post $1.55 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Friday, September 15th. General Electric’s dividend payout ratio is presently 118.52%.
In other General Electric news, Vice Chairman Elizabeth J. Comstock sold 24,693 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $25.65, for a total value of $633,375.45. Following the completion of the transaction, the insider now owns 175,717 shares in the company, valued at approximately $4,507,141.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James S. Tisch purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $24.56 per share, with a total value of $2,456,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 233,253 shares of company stock valued at $5,860,264. 0.36% of the stock is owned by company insiders.
General Electric Profile
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