Smith Salley & Associates decreased its holdings in General Electric (NYSE:GE) by 6.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,564 shares of the conglomerate’s stock after selling 1,245 shares during the quarter. Smith Salley & Associates’ holdings in General Electric were worth $185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GE. Arbor Wealth Management LLC acquired a new position in General Electric in the 4th quarter worth about $30,000. SevenBridge Financial Group LLC raised its holdings in General Electric by 100.4% in the 4th quarter. SevenBridge Financial Group LLC now owns 4,193 shares of the conglomerate’s stock worth $32,000 after purchasing an additional 2,101 shares during the period. Executive Wealth Management LLC acquired a new position in General Electric in the 4th quarter worth about $36,000. Lenox Wealth Advisors LLC raised its holdings in General Electric by 3,735.0% in the 2nd quarter. Lenox Wealth Advisors LLC now owns 3,835 shares of the conglomerate’s stock worth $40,000 after purchasing an additional 3,735 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new position in General Electric in the 4th quarter worth about $41,000. 57.85% of the stock is owned by institutional investors.

GE stock opened at $10.51 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.77 and a debt-to-equity ratio of 1.62. The firm has a 50 day moving average of $10.32. The stock has a market capitalization of $91.66 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 2.37 and a beta of 1.03. General Electric has a 1 year low of $6.66 and a 1 year high of $13.78.

General Electric (NYSE:GE) last posted its quarterly earnings results on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $27.29 billion during the quarter, compared to analyst estimates of $27.31 billion. General Electric had a positive return on equity of 10.32% and a negative net margin of 14.65%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. Equities research analysts forecast that General Electric will post 0.61 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Monday, July 1st were given a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. General Electric’s dividend payout ratio (DPR) is presently 6.15%.

A number of equities analysts have commented on the company. Citigroup set a $14.00 target price on General Electric and gave the company a “buy” rating in a report on Wednesday, June 19th. JPMorgan Chase & Co. set a $60.00 target price on Bayerische Motoren Werke and gave the company a “sell” rating in a report on Monday, April 8th. Deutsche Bank cut Cogent Communications from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. UBS Group set a $115.00 target price on Entergy and gave the company a “buy” rating in a report on Monday, July 15th. Finally, Cowen reissued a “hold” rating and set a $103.00 target price on shares of United Therapeutics in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $11.62.

In other news, Director Edward P. Garden sold 3,370,314 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $9.53, for a total value of $32,119,092.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward P. Garden sold 1,289,538 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total value of $12,921,170.76. Following the completion of the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The disclosure for this sale can be found here. 1.13% of the stock is owned by corporate insiders.

General Electric Company Profile

General Electric Company operates as a high-tech industrial company worldwide. It operates through Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, generators, and high voltage equipment; and power generation services.

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

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