Huntington National Bank reduced its position in shares of General Electric (NYSE:GE) by 14.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 697,159 shares of the conglomerate’s stock after selling 119,791 shares during the quarter. Huntington National Bank’s holdings in General Electric were worth $9,489,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Round Table Services LLC bought a new stake in shares of General Electric in the second quarter worth approximately $341,000. Wall Capital Group Inc. bought a new stake in shares of General Electric in the second quarter worth approximately $178,000. Chicago Capital LLC grew its stake in shares of General Electric by 19.4% in the second quarter. Chicago Capital LLC now owns 149,736 shares of the conglomerate’s stock worth $2,038,000 after acquiring an additional 24,289 shares during the period. Stelac Advisory Services LLC grew its stake in shares of General Electric by 28.0% in the second quarter. Stelac Advisory Services LLC now owns 62,076 shares of the conglomerate’s stock worth $845,000 after acquiring an additional 13,576 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of General Electric by 30.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 466,250 shares of the conglomerate’s stock worth $6,345,000 after acquiring an additional 108,520 shares during the period. Institutional investors and hedge funds own 53.74% of the company’s stock.

GE opened at $12.33 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.51 and a debt-to-equity ratio of 1.39. The company has a market capitalization of $107.66 billion, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. General Electric has a 12-month low of $11.94 and a 12-month high of $25.21.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Monday, September 17th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Friday, September 14th. General Electric’s payout ratio is 45.71%.

In other General Electric news, Director H Lawrence Culp, Jr. acquired 191,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 24th. The shares were bought at an average price of $13.04 per share, with a total value of $2,490,640.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.

GE has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “neutral” rating and issued a $15.00 price target on shares of General Electric in a research note on Wednesday, August 8th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $11.00 price target on shares of General Electric in a research note on Monday, May 28th. Zacks Investment Research upgraded shares of General Electric from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. Bank of America reduced their price target on shares of General Electric from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 27th. Finally, Goldman Sachs Group reiterated a “neutral” rating and issued a $14.00 price target on shares of General Electric in a research note on Tuesday, May 22nd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. General Electric currently has an average rating of “Hold” and an average price target of $16.99.

General Electric Profile

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.

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

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