Highland Capital Management LLC Lowers Holdings in General Electric (NYSE:GE)

Highland Capital Management LLC lowered its position in shares of General Electric (NYSE:GEGet Rating) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,283 shares of the conglomerate’s stock after selling 627 shares during the quarter. Highland Capital Management LLC’s holdings in General Electric were worth $591,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tcwp LLC acquired a new stake in General Electric in the first quarter valued at $28,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in General Electric by 808.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 336 shares of the conglomerate’s stock worth $31,000 after buying an additional 299 shares in the last quarter. Marshall & Sullivan Inc. WA purchased a new stake in General Electric in the 2nd quarter worth approximately $34,000. Core Alternative Capital raised its holdings in shares of General Electric by 736.2% during the 1st quarter. Core Alternative Capital now owns 393 shares of the conglomerate’s stock valued at $36,000 after purchasing an additional 346 shares in the last quarter. Finally, Bivin & Associates Inc. bought a new position in General Electric in the 4th quarter worth $37,000. Institutional investors and hedge funds own 67.09% of the company’s stock.

General Electric Stock Performance

NYSE GE opened at $65.36 on Friday. The company has a fifty day simple moving average of $72.91 and a 200 day simple moving average of $77.09. General Electric has a 12-month low of $59.93 and a 12-month high of $116.17. The company has a current ratio of 1.13, a quick ratio of 0.80 and a debt-to-equity ratio of 0.77. The company has a market cap of $71.67 billion, a P/E ratio of -15.42, a PEG ratio of 3.40 and a beta of 1.09.

General Electric (NYSE:GEGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The conglomerate reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.40. The business had revenue of $18.65 billion for the quarter, compared to analysts’ expectations of $17.90 billion. General Electric had a positive return on equity of 7.50% and a negative net margin of 5.94%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. Sell-side analysts predict that General Electric will post 2.74 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, September 26th. General Electric’s dividend payout ratio (DPR) is presently -7.55%.

Analyst Ratings Changes

GE has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of General Electric to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Barclays lowered their price target on shares of General Electric from $96.00 to $81.00 and set an “overweight” rating on the stock in a research report on Friday, July 8th. Morgan Stanley reduced their price target on shares of General Electric from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. The Goldman Sachs Group dropped their price objective on shares of General Electric from $108.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Finally, Sanford C. Bernstein initiated coverage on shares of General Electric in a report on Tuesday, August 16th. They set an “outperform” rating and a $100.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, General Electric currently has an average rating of “Moderate Buy” and an average price target of $99.15.

General Electric Company Profile

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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.

See Also

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

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