Huntington National Bank lessened its position in General Electric (NYSE:GE) by 4.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,780 shares of the conglomerate’s stock after selling 14,463 shares during the period. Huntington National Bank’s holdings in General Electric were worth $1,945,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in GE. Macquarie Group Ltd. grew its holdings in General Electric by 39.8% in the 4th quarter. Macquarie Group Ltd. now owns 346,411 shares of the conglomerate’s stock worth $3,866,000 after acquiring an additional 98,709 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of General Electric by 25.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,981 shares of the conglomerate’s stock worth $178,000 after purchasing an additional 3,200 shares during the period. American National Bank lifted its position in shares of General Electric by 43.4% in the 1st quarter. American National Bank now owns 6,603 shares of the conglomerate’s stock worth $52,000 after purchasing an additional 2,000 shares during the period. State of Alaska Department of Revenue lifted its position in shares of General Electric by 4.9% in the 1st quarter. State of Alaska Department of Revenue now owns 1,504,943 shares of the conglomerate’s stock worth $11,949,000 after purchasing an additional 69,644 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of General Electric by 37.8% in the 1st quarter. Sound Income Strategies LLC now owns 5,848 shares of the conglomerate’s stock worth $46,000 after purchasing an additional 1,604 shares during the period. 61.93% of the stock is currently owned by institutional investors and hedge funds.
GE has been the subject of several research analyst reports. Deutsche Bank dropped their target price on shares of General Electric from $6.51 to $6.25 and set a “hold” rating for the company in a research report on Thursday. UBS Group reissued a “buy” rating and set a $7.50 price target on shares of General Electric in a research report on Friday, May 29th. Cfra cut shares of General Electric to a “hold” rating in a research report on Thursday, April 9th. Credit Suisse Group lowered their price target on shares of General Electric from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, April 30th. Finally, Citigroup lowered their price target on shares of General Electric from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. General Electric has a consensus rating of “Hold” and a consensus price target of $9.02.
General Electric (NYSE:GE) last issued its earnings results on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $17.75 billion during the quarter, compared to analysts’ expectations of $17.27 billion. General Electric had a positive return on equity of 7.94% and a negative net margin of 5.10%. The firm’s quarterly revenue was down 38.4% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. As a group, equities research analysts forecast that General Electric will post -0.01 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 27th. Stockholders of record on Monday, June 29th were paid a $0.01 dividend. The ex-dividend date was Friday, June 26th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.66%. General Electric’s dividend payout ratio is presently 6.15%.
General Electric 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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