DekaBank Deutsche Girozentrale Has $71.49 Million Stake in General Electric Company (GE)
DekaBank Deutsche Girozentrale lowered its stake in shares of General Electric Company (NYSE:GE) by 19.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,616,260 shares of the conglomerate’s stock after selling 628,903 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in General Electric were worth $71,485,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GE. Ullmann Financial Group Inc. bought a new position in General Electric in the 1st quarter valued at $106,000. PHH Investments Ltd. grew its position in General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 2,000 shares during the last quarter. Barber Financial Group Inc. grew its position in General Electric by 3.1% in the 1st quarter. Barber Financial Group Inc. now owns 7,363 shares of the conglomerate’s stock valued at $219,000 after acquiring an additional 220 shares during the last quarter. Flaharty Asset Management LLC bought a new position in General Electric in the 1st quarter valued at $226,000. Finally, Oakmont Partners LLC grew its position in General Electric by 3.6% in the 2nd quarter. Oakmont Partners LLC now owns 8,034 shares of the conglomerate’s stock valued at $217,000 after acquiring an additional 278 shares during the last quarter. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of General Electric Company (NYSE:GE) opened at $18.26 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 1.14. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38. The company has a market capitalization of $155,186.97, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11.
General Electric (NYSE:GE) last released its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business had revenue of $33.47 billion during the quarter, compared to analysts’ expectations of $32.51 billion. During the same quarter last year, the business posted $0.32 earnings per share. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. equities research analysts predict that General Electric Company will post 1.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Monday, September 18th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is presently 120.00%.
In other General Electric news, 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 cost of $24.56 per share, for a total transaction of $2,456,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.36% of the company’s stock.
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Several brokerages have commented on GE. J P Morgan Chase & Co set a $17.00 price objective on General Electric and gave the company a “sell” rating in a research report on Wednesday. Morgan Stanley downgraded General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 price objective on the stock. in a research report on Monday, October 23rd. Stifel Nicolaus cut General Electric from a “buy” rating to a “hold” rating and lowered their target price for the stock from $26.00 to $22.00 in a report on Tuesday, October 24th. Credit Suisse Group reiterated an “outperform” rating and issued a $33.00 target price on shares of General Electric in a report on Saturday, July 22nd. Finally, Vetr upgraded General Electric from a “sell” rating to a “hold” rating and set a $21.74 target price for the company in a report on Monday, October 23rd. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. General Electric has an average rating of “Hold” and a consensus target price of $24.84.
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