Gluskin Sheff & Assoc Inc. lessened its holdings in shares of General Electric (NYSE:GE – Get Rating) by 0.3% in the first quarter, Holdings Channel reports. The firm owned 46,396 shares of the conglomerate’s stock after selling 154 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in General Electric were worth $4,245,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GE. Geneos Wealth Management Inc. acquired a new stake in General Electric in the first quarter valued at approximately $2,278,000. Captrust Financial Advisors grew its position in General Electric by 9.2% in the first quarter. Captrust Financial Advisors now owns 72,908 shares of the conglomerate’s stock valued at $6,677,000 after acquiring an additional 6,120 shares in the last quarter. Hillman Capital Management Inc. grew its position in General Electric by 17.3% in the first quarter. Hillman Capital Management Inc. now owns 5,790 shares of the conglomerate’s stock valued at $530,000 after acquiring an additional 854 shares in the last quarter. Wetherby Asset Management Inc. grew its position in General Electric by 6.9% in the first quarter. Wetherby Asset Management Inc. now owns 15,388 shares of the conglomerate’s stock valued at $1,408,000 after acquiring an additional 989 shares in the last quarter. Finally, Ethic Inc. boosted its stake in shares of General Electric by 38.6% during the 1st quarter. Ethic Inc. now owns 3,005 shares of the conglomerate’s stock valued at $275,000 after buying an additional 837 shares during the last quarter. Institutional investors and hedge funds own 67.09% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have recently commented on GE shares. Barclays reduced their target price on General Electric from $96.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, July 8th. Sanford C. Bernstein initiated coverage on General Electric in a research note on Tuesday, August 16th. They set an “outperform” rating and a $100.00 price objective on the stock. Morgan Stanley reduced their price objective on General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company raised their price objective on General Electric to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, The Goldman Sachs Group reduced their price objective on General Electric from $108.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $99.15.
General Electric Price Performance
General Electric (NYSE:GE – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The conglomerate reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.40. The company had revenue of $18.65 billion for the quarter, compared to analyst estimates of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. Equities analysts anticipate that General Electric will post 2.74 EPS for the current year.
General Electric Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Tuesday, September 27th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Monday, September 26th. General Electric’s payout ratio is currently -7.55%.
About General Electric
General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.
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