General Electric Company (GE) Stake Decreased by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. cut its stake in General Electric Company (NYSE:GE) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,238,759 shares of the conglomerate’s stock after selling 17,109 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in General Electric were worth $36,914,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of General Electric during the fourth quarter valued at about $2,383,193,000. Harris Associates L P boosted its stake in shares of General Electric by 26.4% in the first quarter. Harris Associates L P now owns 46,376,143 shares of the conglomerate’s stock valued at $1,382,009,000 after buying an additional 9,681,420 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of General Electric by 16.5% in the fourth quarter. Teachers Advisors LLC now owns 18,282,715 shares of the conglomerate’s stock valued at $577,734,000 after buying an additional 2,592,455 shares during the last quarter. UBS Oconnor LLC boosted its stake in shares of General Electric by 795.5% in the first quarter. UBS Oconnor LLC now owns 2,025,000 shares of the conglomerate’s stock valued at $60,345,000 after buying an additional 1,798,877 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of General Electric by 41.6% in the first quarter. Nationwide Fund Advisors now owns 5,420,262 shares of the conglomerate’s stock valued at $161,524,000 after buying an additional 1,591,790 shares during the last quarter. Institutional investors and hedge funds own 54.31% of the company’s stock.
General Electric Company (NYSE:GE) traded up 0.65% during trading on Tuesday, reaching $24.65. 8,403,229 shares of the company’s stock traded hands. General Electric Company has a 12 month low of $24.32 and a 12 month high of $32.38. The firm has a 50 day moving average price of $25.88 and a 200-day moving average price of $28.28. The firm has a market cap of $213.42 billion, a PE ratio of 30.02 and a beta of 1.21.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. General Electric had a net margin of 6.45% and a return on equity of 14.59%. The firm had revenue of $29.56 billion for the quarter, compared to analysts’ expectations of $29.07 billion. During the same period in the previous year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, analysts forecast that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a yield of 3.92%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
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Several analysts have issued reports on GE shares. Royal Bank Of Canada cut their price objective on General Electric from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, April 24th. Argus lowered their target price on General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a report on Monday, April 24th. Bank of America Corporation lowered General Electric from a “buy” rating to a “neutral” rating and lowered their target price for the company from $35.00 to $31.00 in a report on Tuesday, April 25th. Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Finally, Vetr raised General Electric from a “hold” rating to a “buy” rating and set a $30.43 target price for the company in a report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. General Electric presently has an average rating of “Hold” and an average target price of $30.08.
In other news, insider Alexander Dimitrief acquired 1,845 shares of the stock in a transaction dated Monday, July 24th. The shares were bought at an average cost of $25.54 per share, for a total transaction of $47,121.30. Following the purchase, the insider now directly owns 65,597 shares of the company’s stock, valued at $1,675,347.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Rohr acquired 27,425 shares of the stock in a transaction dated Monday, July 24th. The shares were purchased at an average price of $25.50 per share, for a total transaction of $699,337.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 133,253 shares of company stock worth $3,404,264 over the last three months. Insiders own 0.36% of the company’s stock.
About General Electric
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