Dai Ichi Life Insurance Company Ltd trimmed its position in General Electric (NYSE:GE) by 3.3% during the second quarter, HoldingsChannel.com reports. The fund owned 488,715 shares of the conglomerate’s stock after selling 16,580 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in General Electric were worth $3,338,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Platinum Investment Management Ltd. lifted its stake in General Electric by 64.9% in the second quarter. Platinum Investment Management Ltd. now owns 34,680,403 shares of the conglomerate’s stock valued at $236,867,000 after buying an additional 13,647,730 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in General Electric by 3,523.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,869,912 shares of the conglomerate’s stock valued at $86,307,000 after acquiring an additional 10,569,912 shares during the period. Pzena Investment Management LLC increased its stake in General Electric by 16.1% during the second quarter. Pzena Investment Management LLC now owns 74,973,028 shares of the conglomerate’s stock valued at $512,066,000 after acquiring an additional 10,403,515 shares during the period. Bessemer Group Inc. increased its stake in General Electric by 5,507.1% during the first quarter. Bessemer Group Inc. now owns 8,158,819 shares of the conglomerate’s stock valued at $64,780,000 after acquiring an additional 8,013,311 shares during the period. Finally, Geode Capital Management LLC increased its stake in General Electric by 6.1% during the first quarter. Geode Capital Management LLC now owns 127,442,619 shares of the conglomerate’s stock valued at $1,009,780,000 after acquiring an additional 7,346,879 shares during the period. 59.95% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on GE. Oppenheimer restated a “hold” rating on shares of General Electric in a research note on Monday, August 3rd. TheStreet upgraded shares of General Electric from a “d+” rating to a “c-” rating in a research report on Tuesday, June 9th. Cowen reiterated a “hold” rating and set a $8.00 target price on shares of General Electric in a report on Monday, May 4th. JPMorgan Chase & Co. reiterated a “fair value” rating on shares of General Electric in a report on Monday. Finally, UBS Group restated a “buy” rating and set a $7.50 price objective on shares of General Electric in a research note on Friday, May 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.02.
Shares of NYSE:GE opened at $6.34 on Tuesday. The company’s 50 day simple moving average is $6.61 and its 200 day simple moving average is $7.44. The stock has a market capitalization of $57.86 billion, a price-to-earnings ratio of -10.93 and a beta of 0.89. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.21 and a quick ratio of 1.95. General Electric has a 1 year low of $5.48 and a 1 year high of $13.26.
General Electric (NYSE:GE) last announced its quarterly earnings data on Wednesday, July 29th. The conglomerate reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The firm had revenue of $17.75 billion during the quarter, compared to the consensus estimate of $17.27 billion. General Electric had a negative net margin of 5.10% and a positive return on equity of 7.94%. The business’s revenue was down 38.4% compared to the same quarter last year. During the same period last year, the business earned $0.17 earnings per share. As a group, analysts anticipate that General Electric will post -0.05 EPS for the current fiscal year.
In other General Electric news, Director Edward P. Garden sold 3,264,481 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $6.09, for a total transaction of $19,880,689.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. sold 15,569,158 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $6.14, for a total transaction of $95,594,630.12. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.
General Electric Company 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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