Mitsubishi UFJ Kokusai Asset Management Co. Ltd. cut its holdings in shares of General Electric Company (NYSE:GE) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,461,056 shares of the conglomerate’s stock after selling 274,863 shares during the quarter. General Electric makes up about 1.0% of Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s investment portfolio, making the stock its 17th biggest position. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in General Electric were worth $39,463,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GE. Nationwide Fund Advisors increased its holdings in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock worth $161,524,000 after purchasing an additional 1,591,790 shares during the last quarter. Truepoint Inc. increased its holdings in shares of General Electric by 4.5% in the first quarter. Truepoint Inc. now owns 46,690 shares of the conglomerate’s stock worth $1,391,000 after purchasing an additional 2,000 shares during the last quarter. Country Trust Bank increased its holdings in shares of General Electric by 0.9% in the first quarter. Country Trust Bank now owns 1,313,695 shares of the conglomerate’s stock worth $39,148,000 after purchasing an additional 11,408 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its holdings in shares of General Electric by 13.2% in the first quarter. Boyd Watterson Asset Management LLC OH now owns 65,017 shares of the conglomerate’s stock worth $1,938,000 after purchasing an additional 7,573 shares during the last quarter. Finally, Guardian Investment Management increased its holdings in shares of General Electric by 11.4% in the first quarter. Guardian Investment Management now owns 137,715 shares of the conglomerate’s stock worth $3,535,000 after purchasing an additional 14,111 shares during the last quarter. 54.29% of the stock is currently owned by institutional investors and hedge funds.
General Electric Company (GE) opened at $19.02 on Tuesday. The company has a market cap of $177,777.73, a P/E ratio of 16.53, a P/E/G ratio of 2.15 and a beta of 1.11. General Electric Company has a 12 month low of $18.75 and a 12 month high of $32.38. 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 (NYSE:GE) last issued its quarterly earnings data on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The business had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a return on equity of 13.72% and a net margin of 6.08%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. analysts forecast that General Electric Company will post 1.06 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors 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 5.05%. The ex-dividend date was Friday, September 15th. General Electric’s dividend payout ratio (DPR) is 120.00%.
In other General Electric news, Director James S. Tisch acquired 100,000 shares of General Electric stock in a transaction that occurred 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.36% of the company’s stock.
GE has been the topic of several research reports. UBS AG reaffirmed a “buy” rating and issued a $31.00 target price (down from $35.00) on shares of General Electric in a report on Tuesday, July 25th. Bank of America Corporation upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 price target for the company in a research report on Monday, October 23rd. Vetr lowered General Electric from a “strong-buy” rating to a “buy” rating and set a $25.63 price target for the company. in a research report on Wednesday, September 13th. Oppenheimer Holdings, Inc. lowered General Electric from a “market perform” rating to an “underperform” rating in a research report on Tuesday, October 24th. Finally, J P Morgan Chase & Co reiterated a “sell” rating and issued a price target on shares of General Electric in a research report on Thursday, October 19th. Six analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $25.55.
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