Dimensional Fund Advisors LP Trims Stake in General Electric (NYSE:GE)

Dimensional Fund Advisors LP lowered its position in General Electric (NYSE:GE) by 34.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,563,602 shares of the conglomerate’s stock after selling 1,365,056 shares during the quarter. Dimensional Fund Advisors LP’s holdings in General Electric were worth $407,556,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA purchased a new position in General Electric in the 2nd quarter worth about $580,200,000. Wealth Dimensions Group Ltd. increased its stake in General Electric by 6.5% in the 2nd quarter. Wealth Dimensions Group Ltd. now owns 7,408 shares of the conglomerate’s stock worth $1,178,000 after buying an additional 449 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in General Electric in the 2nd quarter worth about $280,000. Prime Capital Investment Advisors LLC increased its stake in General Electric by 15.5% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 35,169 shares of the conglomerate’s stock worth $5,591,000 after buying an additional 4,728 shares during the period. Finally, Plato Investment Management Ltd increased its stake in General Electric by 19.5% in the 2nd quarter. Plato Investment Management Ltd now owns 29,799 shares of the conglomerate’s stock worth $4,737,000 after buying an additional 4,858 shares during the period. Hedge funds and other institutional investors own 74.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of General Electric from $195.00 to $209.00 and gave the company a “buy” rating in a report on Monday, June 10th. Barclays boosted their price target on shares of General Electric from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price target on shares of General Electric from $185.00 to $190.00 and gave the company a “buy” rating in a report on Friday, June 28th. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of General Electric from $192.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $191.14.

General Electric Stock Up 1.8 %

Shares of General Electric stock opened at $181.46 on Tuesday. The firm’s 50 day moving average price is $166.93 and its 200-day moving average price is $171.00. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.95. General Electric has a 52-week low of $84.42 and a 52-week high of $181.52. The company has a market cap of $198.63 billion, a P/E ratio of 59.50, a PEG ratio of 1.65 and a beta of 1.18.

General Electric (NYSE:GE) last released its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.21. The company had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a net margin of 7.66% and a return on equity of 16.07%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 EPS. On average, sell-side analysts predict that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, September 26th. General Electric’s dividend payout ratio is presently 36.72%.

General Electric Profile

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.