Bedel Financial Consulting Inc. reduced its stake in shares of General Electric (NYSE:GE) by 20.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,537 shares of the conglomerate’s stock after selling 6,468 shares during the period. Bedel Financial Consulting Inc.’s holdings in General Electric were worth $334,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Buckley Wealth Management LLC lifted its position in shares of General Electric by 1.3% in the 1st quarter. Buckley Wealth Management LLC now owns 272,144 shares of the conglomerate’s stock worth $3,669,000 after buying an additional 3,575 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its position in General Electric by 28.1% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 16,411 shares of the conglomerate’s stock valued at $221,000 after purchasing an additional 3,600 shares during the last quarter. Home Federal Bank of Tennessee lifted its position in General Electric by 7.4% in the 2nd quarter. Home Federal Bank of Tennessee now owns 53,210 shares of the conglomerate’s stock valued at $725,000 after purchasing an additional 3,675 shares during the last quarter. Advisors Capital Management LLC lifted its position in General Electric by 7.6% in the 1st quarter. Advisors Capital Management LLC now owns 52,750 shares of the conglomerate’s stock valued at $711,000 after purchasing an additional 3,714 shares during the last quarter. Finally, Centerpoint Advisors LLC lifted its position in General Electric by 27.7% in the 1st quarter. Centerpoint Advisors LLC now owns 17,362 shares of the conglomerate’s stock valued at $234,000 after purchasing an additional 3,764 shares during the last quarter. 53.72% of the stock is owned by institutional investors.

Several brokerages recently weighed in on GE. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $11.00 price objective on shares of General Electric in a research report on Tuesday, May 22nd. Citigroup reiterated a “buy” rating on shares of General Electric in a research report on Tuesday, May 22nd. Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price objective on shares of General Electric in a research report on Tuesday, May 22nd. Stifel Nicolaus reiterated a “neutral” rating and issued a $15.00 price objective on shares of General Electric in a research report on Friday, May 18th. Finally, UBS Group reiterated a “neutral” rating and issued a $16.00 price objective on shares of General Electric in a research report on Thursday, May 17th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. General Electric presently has a consensus rating of “Hold” and an average target price of $16.99.

GE stock opened at $12.40 on Friday. General Electric has a 52 week low of $11.94 and a 52 week high of $25.21. The stock has a market cap of $108.62 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 2.37 and a beta of 0.96. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.51 and a current ratio of 1.81.

General Electric (NYSE:GE) last released its quarterly earnings results on Friday, July 20th. The conglomerate reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. General Electric had a negative net margin of 6.59% and a positive return on equity of 10.40%. The company had revenue of $30.10 billion for the quarter, compared to the consensus estimate of $29.39 billion. During the same period in the previous year, the firm earned $0.21 EPS. General Electric’s revenue was up 3.5% on a year-over-year basis. research analysts expect that General Electric will post 0.96 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 25th. Shareholders of record on Monday, September 17th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.87%. General Electric’s dividend payout ratio (DPR) is 45.71%.

In related news, Director H Lawrence Culp, Jr. purchased 191,000 shares of the company’s stock in a transaction on Tuesday, July 24th. The shares were bought at an average cost of $13.04 per share, for a total transaction of $2,490,640.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 1.12% of the stock is currently owned by insiders.

About General Electric

General Electric Company operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. The Power segment offers technologies, solutions, and services related to energy production, including gas and steam turbines, engines, generators, and high voltage equipment; and power generation services and digital solutions.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

Institutional Ownership by Quarter for General Electric (NYSE:GE)

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