Hikari Power Ltd Has $14,095,000 Position in General Electric Co. (GE)
Hikari Power Ltd lowered its position in shares of General Electric Co. (NYSE:GE) by 45.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 447,740 shares of the company’s stock after selling 373,760 shares during the period. General Electric makes up 1.6% of Hikari Power Ltd’s portfolio, making the stock its 16th largest position. Hikari Power Ltd’s holdings in General Electric were worth $14,095,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Gratus Capital LLC boosted its stake in shares of General Electric by 248.2% in the second quarter. Gratus Capital LLC now owns 147,480 shares of the company’s stock worth $4,643,000 after buying an additional 105,129 shares during the period. Obermeyer Wood Investment Counsel Lllp bought a new stake in shares of General Electric during the second quarter worth approximately $328,000. Wallington Asset Management LLC bought a new stake in shares of General Electric during the second quarter worth approximately $9,745,000. Cornerstone Financial Partners LLC boosted its stake in shares of General Electric by 13.7% in the second quarter. Cornerstone Financial Partners LLC now owns 82,585 shares of the company’s stock worth $2,594,000 after buying an additional 9,924 shares during the period. Finally, Rathbone Brothers plc boosted its stake in shares of General Electric by 0.5% in the second quarter. Rathbone Brothers plc now owns 1,287,174 shares of the company’s stock worth $40,520,000 after buying an additional 6,432 shares during the period. Hedge funds and other institutional investors own 55.81% of the company’s stock.
General Electric Co. (NYSE:GE) traded up 0.82% on Tuesday, reaching $29.67. The company’s stock had a trading volume of 29,644,540 shares. The stock has a 50 day moving average price of $30.95 and a 200-day moving average price of $30.85. The company has a market capitalization of $265.88 billion, a price-to-earnings ratio of 25.08 and a beta of 1.11. General Electric Co. has a 1-year low of $24.26 and a 1-year high of $33.00.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 22nd. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.05. The company had revenue of $33.49 million for the quarter, compared to analysts’ expectations of $31.76 billion. General Electric had a return on equity of 15.04% and a net margin of 9.14%. The firm’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. Equities analysts predict that General Electric Co. will post $1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Monday, September 19th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Thursday, September 15th. General Electric’s payout ratio is 77.97%.
A number of brokerages have commented on GE. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.83 target price on the stock in a report on Monday. Zacks Investment Research upgraded General Electric from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, September 13th. William Blair set a $38.00 target price on General Electric and gave the company a “buy” rating in a report on Thursday, September 8th. Stifel Nicolaus set a $34.00 target price on General Electric and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, Morgan Stanley set a $32.00 target price on General Electric and gave the company a “hold” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $32.64.
In other news, Chairman Jeffrey R. Immelt acquired 50,000 shares of the stock in a transaction on Tuesday, July 26th. The shares were purchased at an average cost of $31.45 per share, for a total transaction of $1,572,500.00. Following the transaction, the chairman now owns 2,198,688 shares in the company, valued at approximately $69,148,737.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.
General Electric Company Profile
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