General Electric (NYSE:GE) Position Lessened by Auxier Asset Management

Auxier Asset Management lowered its stake in shares of General Electric (NYSE:GE) by 11.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,091 shares of the conglomerate’s stock after selling 262 shares during the quarter. Auxier Asset Management’s holdings in General Electric were worth $332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rathbones Group PLC grew its position in shares of General Electric by 2.7% during the fourth quarter. Rathbones Group PLC now owns 225,814 shares of the conglomerate’s stock worth $28,821,000 after acquiring an additional 5,997 shares during the last quarter. Vanguard Group Inc. boosted its stake in General Electric by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 88,444,222 shares of the conglomerate’s stock valued at $11,288,136,000 after purchasing an additional 550,996 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in General Electric by 3.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 288,224 shares of the conglomerate’s stock valued at $36,786,000 after purchasing an additional 8,788 shares during the period. GAMMA Investing LLC grew its position in General Electric by 25.4% in the 2nd quarter. GAMMA Investing LLC now owns 16,999 shares of the conglomerate’s stock worth $2,702,000 after purchasing an additional 3,442 shares during the last quarter. Finally, Makena Capital Management LLC increased its stake in shares of General Electric by 26.2% in the fourth quarter. Makena Capital Management LLC now owns 149,855 shares of the conglomerate’s stock valued at $19,126,000 after purchasing an additional 31,107 shares during the period. 74.77% of the stock is currently owned by institutional investors.

General Electric Price Performance

Shares of NYSE:GE opened at $187.39 on Friday. The company has a market capitalization of $205.12 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 1.65 and a beta of 1.18. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.85 and a current ratio of 1.14. The stock has a fifty day moving average of $168.69 and a 200-day moving average of $170.96. General Electric has a one year low of $84.42 and a one year high of $187.99.

General Electric (NYSE:GE) last announced its earnings results on Tuesday, July 23rd. The conglomerate reported $1.20 EPS for the quarter, beating the consensus estimate of $0.99 by $0.21. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.44 billion. General Electric had a return on equity of 16.07% and a net margin of 7.66%. General Electric’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, equities analysts anticipate that General Electric will post 4.2 EPS for the current fiscal year.

General Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Thursday, September 26th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Thursday, September 26th. General Electric’s payout ratio is 36.72%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on General Electric from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada raised their price target on General Electric from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Electric from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com lowered shares of General Electric from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Sanford C. Bernstein started coverage on shares of General Electric in a research report on Tuesday, September 10th. They set an “outperform” rating and a $201.00 price target on the stock. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, General Electric presently has an average rating of “Moderate Buy” and a consensus target price of $191.36.

General Electric Company Profile

General Electric Company, doing business as GE Aerospace, designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. It also offers aftermarket services to support its products. The company operates in the United States, Europe, China, Asia, the Americas, the Middle East, and Africa.