TB Alternative Assets Ltd. cut its holdings in General Electric (NYSE:GE) by 12.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 551,800 shares of the conglomerate’s stock after selling 78,300 shares during the quarter. TB Alternative Assets Ltd.’s holdings in General Electric were worth $3,438,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. increased its position in General Electric by 1.4% in the second quarter. BlackRock Inc. now owns 564,187,905 shares of the conglomerate’s stock worth $3,853,404,000 after purchasing an additional 7,629,478 shares during the period. Pzena Investment Management LLC increased its position in General Electric by 16.1% in the second quarter. Pzena Investment Management LLC now owns 74,973,028 shares of the conglomerate’s stock worth $512,066,000 after purchasing an additional 10,403,515 shares during the period. Platinum Investment Management Ltd. increased its position in General Electric by 64.9% in the second quarter. Platinum Investment Management Ltd. now owns 34,680,403 shares of the conglomerate’s stock worth $236,867,000 after purchasing an additional 13,647,730 shares during the period. Swiss National Bank boosted its holdings in General Electric by 2.0% during the second quarter. Swiss National Bank now owns 34,566,924 shares of the conglomerate’s stock worth $236,092,000 after buying an additional 670,500 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in General Electric by 1.6% during the second quarter. New York State Common Retirement Fund now owns 25,399,282 shares of the conglomerate’s stock worth $173,477,000 after buying an additional 406,864 shares during the last quarter. Institutional investors own 59.95% of the company’s stock.

In other news, Director Edward P. Garden sold 3,264,481 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $6.09, for a total value of $19,880,689.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 15,569,158 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $6.14, for a total value of $95,594,630.12. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

A number of brokerages have issued reports on GE. Zacks Investment Research upgraded General Electric from a “strong sell” rating to a “hold” rating and set a $7.00 target price on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on General Electric from $6.25 to $6.81 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Oppenheimer restated a “hold” rating on shares of General Electric in a report on Monday, August 3rd. JPMorgan Chase & Co. restated a “fair value” rating on shares of General Electric in a report on Monday, August 31st. Finally, ValuEngine upgraded General Electric from a “hold” rating to a “buy” rating in a report on Monday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $9.09.

Shares of GE stock traded up $0.42 during trading on Friday, reaching $7.29. 169,147,263 shares of the company’s stock were exchanged, compared to its average volume of 97,304,438. The firm’s fifty day moving average price is $6.41 and its 200-day moving average price is $6.65. The stock has a market capitalization of $63.81 billion, a PE ratio of -12.57 and a beta of 0.92. General Electric has a twelve month low of $5.48 and a twelve month high of $13.26. The company has a quick ratio of 1.95, a current ratio of 2.21 and a debt-to-equity ratio of 2.05.

General Electric (NYSE:GE) last released its earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The company had revenue of $17.75 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the previous year, the company posted $0.17 earnings per share. The business’s revenue was down 38.4% compared to the same quarter last year. As a group, analysts anticipate that General Electric will post -0.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 26th. Shareholders of record on Monday, September 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.55%. General Electric’s payout ratio is presently 6.15%.

About General Electric

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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