Chickasaw Capital Management LLC decreased its stake in General Electric (NYSE:GE) by 8.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,701 shares of the conglomerate’s stock after selling 10,500 shares during the period. Chickasaw Capital Management LLC’s holdings in General Electric were worth $1,194,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in General Electric by 49.4% in the 1st quarter. FMR LLC now owns 450,426,526 shares of the conglomerate’s stock valued at $4,499,762,000 after acquiring an additional 148,979,851 shares during the last quarter. Harris Associates L P grew its stake in shares of General Electric by 35.1% in the 4th quarter. Harris Associates L P now owns 121,783,710 shares of the conglomerate’s stock valued at $921,903,000 after buying an additional 31,634,318 shares during the period. Geode Capital Management LLC grew its stake in shares of General Electric by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 102,022,630 shares of the conglomerate’s stock valued at $770,919,000 after buying an additional 6,235,071 shares during the period. Northern Trust Corp grew its stake in shares of General Electric by 0.8% in the 4th quarter. Northern Trust Corp now owns 101,447,654 shares of the conglomerate’s stock valued at $767,959,000 after buying an additional 763,673 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of General Electric by 7.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 99,844,059 shares of the conglomerate’s stock valued at $755,819,000 after buying an additional 7,194,723 shares during the period. Institutional investors and hedge funds own 57.85% of the company’s stock.
Shares of GE stock opened at $10.45 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.77 and a quick ratio of 1.50. General Electric has a 52 week low of $6.66 and a 52 week high of $13.78. The stock has a market cap of $93.14 billion, a PE ratio of 16.07, a PEG ratio of 2.43 and a beta of 1.03. The firm has a 50 day simple moving average of $10.31.
General Electric (NYSE:GE) last announced its quarterly earnings data on Tuesday, April 30th. The conglomerate reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.05. General Electric had a negative net margin of 14.65% and a positive return on equity of 10.32%. The business had revenue of $27.29 billion for the quarter, compared to analyst estimates of $27.31 billion. During the same period last year, the business earned $0.16 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts predict that General Electric will post 0.61 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Monday, July 1st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.38%. The ex-dividend date was Friday, June 28th. General Electric’s payout ratio is currently 6.15%.
Several analysts have recently weighed in on GE shares. Citigroup set a $14.00 price target on shares of General Electric and gave the company a “buy” rating in a research note on Wednesday, June 19th. JPMorgan Chase & Co. set a $60.00 price target on shares of Bayerische Motoren Werke and gave the company a “sell” rating in a research note on Monday, April 8th. William Blair reissued a “buy” rating on shares of General Electric in a research note on Thursday, June 13th. Zacks Investment Research cut shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Finally, Cowen reissued a “hold” rating and issued a $103.00 price target on shares of United Therapeutics in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. General Electric has an average rating of “Hold” and a consensus price target of $11.62.
In related news, Director Edward P. Garden sold 1,289,538 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $10.02, for a total transaction of $12,921,170.76. Following the sale, the director now owns 25,000 shares of the company’s stock, valued at $250,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward P. Garden sold 3,370,314 shares of General Electric stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $9.53, for a total transaction of $32,119,092.42. The disclosure for this sale can be found here. Company insiders own 1.13% of the company’s stock.
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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