Wasatch Advisors Inc. Decreases Position in General Electric (GE)

Wasatch Advisors Inc. cut its holdings in General Electric (NYSE:GE) by 36.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,217 shares of the conglomerate’s stock after selling 91,013 shares during the period. Wasatch Advisors Inc.’s holdings in General Electric were worth $3,850,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GE. Alpha Cubed Investments LLC lifted its holdings in shares of General Electric by 8.5% in the second quarter. Alpha Cubed Investments LLC now owns 470,552 shares of the conglomerate’s stock worth $12,710,000 after acquiring an additional 36,876 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of General Electric by 1.9% in the second quarter. Sanders Capital LLC now owns 4,942,038 shares of the conglomerate’s stock worth $145,389,000 after acquiring an additional 91,520 shares during the last quarter. Mcrae Capital Management Inc. lifted its holdings in shares of General Electric by 2.7% in the second quarter. Mcrae Capital Management Inc. now owns 255,864 shares of the conglomerate’s stock worth $6,911,000 after acquiring an additional 6,825 shares during the last quarter. Warren Averett Asset Management LLC lifted its holdings in shares of General Electric by 7.0% in the second quarter. Warren Averett Asset Management LLC now owns 103,854 shares of the conglomerate’s stock worth $2,805,000 after acquiring an additional 6,799 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. lifted its holdings in shares of General Electric by 2.1% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 169,864 shares of the conglomerate’s stock worth $4,588,000 after acquiring an additional 3,435 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

General Electric (GE) opened at $15.05 on Friday. The company has a quick ratio of 1.53, a current ratio of 1.86 and a debt-to-equity ratio of 2.09. General Electric has a fifty-two week low of $14.23 and a fifty-two week high of $30.59. The stock has a market cap of $130,510.00, a P/E ratio of 13.94, a P/E/G ratio of 2.86 and a beta of 0.93.

General Electric (NYSE:GE) last released its quarterly earnings results on Wednesday, January 24th. The conglomerate reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). General Electric had a positive return on equity of 12.26% and a negative net margin of 4.74%. The firm had revenue of $31.40 billion for the quarter, compared to the consensus estimate of $33.93 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. equities analysts expect that General Electric will post 0.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Monday, February 26th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 23rd. This represents a $0.48 annualized dividend and a yield of 3.19%. General Electric’s payout ratio is 44.44%.

In other news, Director Francisco Dsouza purchased 55,000 shares of the stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $17.94 per share, for a total transaction of $986,700.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alexander Dimitrief purchased 2,689 shares of the stock in a transaction on Monday, January 29th. The shares were purchased at an average price of $16.16 per share, with a total value of $43,454.24. Following the acquisition, the insider now owns 81,185 shares in the company, valued at approximately $1,311,949.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 58,870 shares of company stock valued at $1,049,050. Company insiders own 0.36% of the company’s stock.

A number of research analysts have recently commented on the stock. Morgan Stanley cut shares of General Electric from an “equal weight” rating to an “underweight” rating and set a $22.00 target price for the company. in a report on Monday, October 23rd. Deutsche Bank set a $21.00 target price on shares of General Electric and gave the stock a “sell” rating in a report on Monday, October 23rd. Goldman Sachs Group set a $22.00 target price on shares of General Electric and gave the stock a “neutral” rating in a report on Monday, October 23rd. UBS Group cut shares of General Electric from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $31.00 to $24.00 in a report on Monday, October 23rd. Finally, Royal Bank of Canada set a $25.00 target price on shares of General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Five analysts have rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $19.86.

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General Electric Company Profile

General Electric Company is a global digital industrial company. The Company’s products and services range from aircraft engines, power generation, and oil and gas production equipment to medical imaging, financing and industrial products. Its segments include Power, which includes products and services related to energy production; Renewable Energy, which offers renewable power sources; Oil & Gas, including liquefied natural gas and pipelines; Aviation, which includes commercial and military aircraft engines, and integrated digital components, among others; Healthcare, which provides healthcare technologies in medical imaging, digital solutions, patient monitoring and diagnostics, and drug discovery, among others; Transportation, which is a supplier to the railroad, mining, marine, stationary power and drilling industries; Energy Connections & Lighting, which includes Energy Connections and Lighting businesses, and Capital, which is a financial services division.

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Institutional Ownership by Quarter for General Electric (NYSE:GE)

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