Jupiter Asset Management Ltd. Sells 777 Shares of General Electric Company (GE)
Jupiter Asset Management Ltd. lowered its stake in General Electric Company (NYSE:GE) by 0.2% during the first quarter, Holdings Channel reports. The firm owned 334,492 shares of the conglomerate’s stock after selling 777 shares during the period. Jupiter Asset Management Ltd.’s holdings in General Electric were worth $9,968,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in GE. Gratus Capital LLC raised its position in General Electric by 118.9% in the fourth quarter. Gratus Capital LLC now owns 287,547 shares of the conglomerate’s stock valued at $9,086,000 after buying an additional 156,217 shares during the period. Zurich Insurance Group Ltd FI raised its position in General Electric by 12.6% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 1,415,110 shares of the conglomerate’s stock valued at $44,717,000 after buying an additional 158,689 shares during the period. Envestnet Asset Management Inc. raised its position in General Electric by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 703,750 shares of the conglomerate’s stock valued at $22,229,000 after buying an additional 15,256 shares during the period. Tyers Asset Management LLC bought a new position in General Electric during the fourth quarter valued at approximately $2,007,000. Finally, Parallel Advisors LLC bought a new position in General Electric during the fourth quarter valued at approximately $3,416,000. 54.29% of the stock is currently owned by hedge funds and other institutional investors.
General Electric Company (GE) opened at 25.63 on Tuesday. The company has a market capitalization of $221.90 billion, a P/E ratio of 31.22 and a beta of 1.21. General Electric Company has a 52 week low of $25.26 and a 52 week high of $32.38. The company’s 50-day moving average price is $26.94 and its 200-day moving average price is $28.78.
General Electric (NYSE:GE) last posted its earnings results on Friday, July 21st. The conglomerate reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to the consensus estimate of $29.07 billion. General Electric had a return on equity of 14.59% and a net margin of 6.45%. General Electric’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.51 EPS. On average, equities analysts forecast that General Electric Company will post $1.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Monday, June 19th were given a dividend of $0.24 per share. The ex-dividend date was Thursday, June 15th. This represents a $0.96 annualized dividend and a dividend yield of 3.75%. General Electric’s dividend payout ratio (DPR) is presently 118.52%.
Several research firms recently commented on GE. Credit Suisse Group reissued a “buy” rating and set a $34.00 price target on shares of General Electric in a research report on Tuesday, April 11th. Cowen and Company reissued a “hold” rating and set a $30.00 price target on shares of General Electric in a research report on Thursday, April 20th. Vetr lowered General Electric from a “buy” rating to a “hold” rating and set a $30.43 target price on the stock. in a research report on Friday, April 14th. Stifel Nicolaus upped their target price on General Electric from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Finally, Bank of America Corporation lowered General Electric from a “buy” rating to a “neutral” rating and cut their target price for the company from $35.00 to $31.00 in a research report on Tuesday, April 25th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $30.08.
In related news, Chairman Jeffrey R. Immelt bought 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $28.07 per share, for a total transaction of $2,807,000.00. Following the transaction, the chairman now directly owns 2,561,926 shares of the company’s stock, valued at $71,913,262.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William G. Beattie bought 16,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $28.05 per share, with a total value of $448,800.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 149,270 shares of company stock valued at $4,113,059 in the last 90 days. 0.36% of the stock is owned by corporate insiders.
About General Electric
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