Claro Advisors LLC Cuts Stake in General Electric (NYSE:GE)

Claro Advisors LLC decreased its holdings in General Electric (NYSE:GEGet Rating) by 12.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,388 shares of the conglomerate’s stock after selling 460 shares during the period. Claro Advisors LLC’s holdings in General Electric were worth $216,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in GE. FDx Advisors Inc. boosted its position in General Electric by 6.8% during the 1st quarter. FDx Advisors Inc. now owns 3,711 shares of the conglomerate’s stock valued at $340,000 after buying an additional 235 shares during the period. Envestnet Asset Management Inc. boosted its position in General Electric by 21.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 442,308 shares of the conglomerate’s stock valued at $40,471,000 after buying an additional 78,918 shares during the period. Victory Capital Management Inc. boosted its position in General Electric by 7.9% during the 1st quarter. Victory Capital Management Inc. now owns 318,102 shares of the conglomerate’s stock valued at $23,715,000 after buying an additional 23,264 shares during the period. Clearstead Advisors LLC raised its holdings in General Electric by 3.2% in the 1st quarter. Clearstead Advisors LLC now owns 9,469 shares of the conglomerate’s stock worth $866,000 after purchasing an additional 295 shares in the last quarter. Finally, LexAurum Advisors LLC bought a new position in General Electric in the 1st quarter worth $206,000. Hedge funds and other institutional investors own 67.09% of the company’s stock.

General Electric Stock Up 0.7 %

NYSE:GE opened at $87.87 on Thursday. The firm has a market cap of $96.01 billion, a P/E ratio of -15.89, a P/E/G ratio of 4.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.10. General Electric has a fifty-two week low of $59.93 and a fifty-two week high of $103.73. The firm has a 50-day simple moving average of $73.13 and a two-hundred day simple moving average of $72.35.

General Electric (NYSE:GEGet Rating) last released its quarterly earnings data on Tuesday, October 25th. The conglomerate reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). The firm had revenue of $19.08 billion for the quarter, compared to the consensus estimate of $18.77 billion. General Electric had a negative net margin of 7.78% and a positive return on equity of 7.20%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. Analysts predict that General Electric will post 2.54 earnings per share for the current fiscal year.

General Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Stockholders of record on Tuesday, September 27th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Monday, September 26th. General Electric’s payout ratio is presently -5.79%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GE. Morgan Stanley upped their price objective on shares of General Electric from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Thursday, October 27th. Credit Suisse Group decreased their price objective on shares of General Electric from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of General Electric from $92.00 to $89.00 in a report on Wednesday, October 26th. Barclays decreased their price objective on shares of General Electric from $81.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, October 3rd. Finally, Sanford C. Bernstein began coverage on shares of General Electric in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $100.00 price target for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, General Electric presently has an average rating of “Moderate Buy” and a consensus price target of $91.00.

General Electric Company Profile

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General Electric Company operates as a high-tech industrial company in Europe, China, Asia, the Americas, the Middle East, and Africa. It operates through four segments: Power, Renewable Energy, Aviation, and Healthcare segments. The Power segment offers gas and steam turbines, full balance of plant, upgrade, and service solutions, as well as data-leveraging software for power generation, industrial, government, and other customers.

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

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