Los Angeles Capital Management LLC Reduces Stock Holdings in General Electric (NYSE:GE)

Los Angeles Capital Management LLC decreased its position in shares of General Electric (NYSE:GEFree Report) by 42.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 121,258 shares of the conglomerate’s stock after selling 89,831 shares during the period. Los Angeles Capital Management LLC’s holdings in General Electric were worth $21,284,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of General Electric during the fourth quarter valued at approximately $1,193,159,000. WCM Investment Management LLC purchased a new position in shares of General Electric in the fourth quarter worth $520,488,000. Lone Pine Capital LLC bought a new position in shares of General Electric during the fourth quarter valued at $268,519,000. Brown Advisory Inc. boosted its position in shares of General Electric by 62.3% during the fourth quarter. Brown Advisory Inc. now owns 4,881,752 shares of the conglomerate’s stock valued at $623,058,000 after buying an additional 1,873,327 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in General Electric by 11,947.8% in the 4th quarter. International Assets Investment Management LLC now owns 1,576,570 shares of the conglomerate’s stock worth $201,218,000 after buying an additional 1,563,484 shares in the last quarter. Institutional investors own 74.77% of the company’s stock.

Insider Buying and Selling at General Electric

In related news, SVP Russell Stokes sold 45,309 shares of General Electric stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $162.82, for a total value of $7,377,211.38. Following the completion of the transaction, the senior vice president now owns 112,958 shares in the company, valued at $18,391,821.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GE. Royal Bank of Canada upped their target price on shares of General Electric from $165.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Barclays dropped their price target on General Electric from $181.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. Vertical Research assumed coverage on General Electric in a report on Thursday, April 4th. They issued a “buy” rating and a $160.00 price objective for the company. StockNews.com started coverage on General Electric in a report on Monday, April 29th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company boosted their price target on General Electric from $165.00 to $192.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $177.27.

Get Our Latest Stock Analysis on General Electric

General Electric Price Performance

General Electric stock traded up $1.74 during mid-day trading on Wednesday, hitting $164.97. The stock had a trading volume of 5,105,349 shares, compared to its average volume of 5,527,998. The firm’s 50 day moving average is $161.18 and its 200 day moving average is $149.27. The firm has a market capitalization of $180.58 billion, a P/E ratio of 54.09, a P/E/G ratio of 1.74 and a beta of 1.23. General Electric has a one year low of $82.11 and a one year high of $170.80. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.63.

General Electric (NYSE:GEGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The conglomerate reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.25 billion. General Electric had a net margin of 5.05% and a return on equity of 12.54%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. On average, sell-side analysts forecast that General Electric will post 3.99 earnings per share for the current fiscal year.

General Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 25th. Investors of record on Monday, April 15th were paid a dividend of $0.28 per share. This is an increase from General Electric’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, April 12th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Profile

(Free Report)

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.

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

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